Arabica coffee prices fall amid Omicron vaccine warning

Arabica Coffee futures fell on Tuesday after drugmaker Moderna cast doubt on the efficacy of COVID-19 vaccines against the new Omicron coronavirus variant, frightening investors in soft commodities.

* March arabica coffee fell 0.2% to $2.3240 per lb. The market had climbed to a 10-year high of $2.4820 last week.

* Dealers expect prices to pull back through the week amid jitters over the Omicron variant.

* Rabobank sees arabica averaging just $1.66 in the fourth quarter of 2022 as the market moves into surplus in 2022/23, with lacklustre production in Brazil met by output ramp ups elsewhere as producers the world over capitalise on high prices.

* January robusta coffee edged up 0.1% to $2,261 a tonne.