Coffee

Robusta coffee rises on supply tightness

Robusta coffee futures on ICE closed more than 2% higher on Wednesday as a supply tightness continues to underpin the market for that variety.

* January robusta coffee LRCc1 closed 2.3% higher to $2,314 a tonne.

* Dealers said the market for robusta continues well supported due to shipping difficulties in Asia and increased demand as roasters boost use of the variety which is comparatively less expensive than arabica.

* Indonesia exported 8,811.44 tonnes of Sumatran robusta coffee beans in November from Lampung province, local trade office data showed, down 70.8% from the same month last year.

* March arabica coffee KCc2 rose 0.4% to $2.3325 per lb.

Also read  Coffee Prices (Karnataka) on 16-05-2023