Arabica coffee futures up after falling to 1-1/2 month low

Coffee futures were positive mode in the past session after arabica prices have been declining sharply from last month’s more than two-year peak.

March arabica coffee was up 0.3 cents, or 0.3%, at $1.1520 per lb, edging away from the prior session’s 1-1/2 month low of $1.1370. Dealers said the recent rise in ICE certified arabica stocks and the large volume of coffee waiting to be graded had helped to put the market on the defensive.

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Rising production in Colombia has also helped to reduce supply concerns.

March robusta rose $9, or 0.7%, to $1,329 a tonne.

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