Arabica Hits new 3-1/2 month High

Weak dollar against Brazil’s real currency and strong technical supports Arabica to hit new 3-1/2 months high on charts in ICE .

Arabica coffee rose 1.90 cents, or 1.36 percent, to $1.4205 per lb, hitting its highest level since April 19.




Robusta also coffee gained $16, or 0.75 percent, to $2,157 per tonne.




Market sources suggested prices could gain further if same technicals rules.




One dealers said Market has also supported by concerns about berry borer beetle damage to crops in Brazil.

Source:

1.timesofindia.indiatimes.com