Robusta Coffee Prices climbs off 2-week low
Robusta and Arabica Coffee climbs on Wednesday on buying boosted the market off a two-week low
March robusta coffee was up 2 percent, at $1,762 a tonne.
Robusta Prices fell to a two-week low in the prior session, pressured by producer selling and a weakening in the arabica coffee market.
However, dealers noted lower prices had drawn strong demand from roasters at Tuesday’s close and Wednesday’s opening, which had boosted the market.
March arabica coffee also rose 0.4 percent, to $1.2280 per lb.
Prices dropped on Tuesday, pressured by a decline in the Brazilian real. A weaker real improves local currency returns on dollar-based commodities like coffee, encouraging producers to sell.
The currency partly recovered on Tuesday, lending support to arabica prices.
