Robusta coffee futures on ICE slipped to a 1-½ year low on Tuesday, pressured by signs of a large crop in top grower Vietnam.
March robusta coffee was down 0.6 percent, at $1,676 a tonne,the weakest for the second position since June 2016.
Expectations of strong production in top grower Vietnam were weighing on prices dealers said.
Close to 100 percent of the crop in Vietnam is now harvested,” said one dealer.
“It’s a big crop – everybody can see that and it’s obviously pressuring the market.”
Copyright Reuters, 2017