Coffee prices at 2-week low as dollar rise

Coffee futures all ended down on Monday as the dollar soared and global equities skidded on concerns about tensions along Ukraine’s border with Russia.

A strong dollar makes dollar-priced commodities like Sugar, coffee and cocoa costlier for non-U.S. investors.

March arabica coffee settled down 4.95 cents, or 2.1%, at $2.3295 per lb​​​, having hit a two week low of $2.3045.

It was the third consecutive loss for arabica amid an overall selloff in agricultural commodities by investors, but also with reports of positive development for the coffee crop in Brazil.

Rains in January over Brazilian coffee areas are above the 10-year average for the period, said consultancy Pharos, adding that the crop might not be as bad as many had projected after the frosts and the drought last year.

March robusta coffee fell $16, or 0.7%, to $2,197 a tonne, nearing a two-month low of $2,184 hit last week.