Robusta prices edge up, remain near 8-1/2 month low

Robusta coffee futures on ICE rose on Wednesday, edging away from the prior session's 8-1/2 month low, but a weak demand outlook, driven partly by the conflict in Ukraine, continued to weigh on prices.

 July robusta coffee LRCc2 rose 0.45% to $2,018 a tonne by 1048 GMT after dipping to a low of $2,004 on Tuesday – the weakest level since Aug. 27, 2021.

Dealers said the Ukraine conflict could have a greater impact on robusta than arabica coffee while Brazil is in the process of harvesting a large and good quality robusta crop.

"The drop in demand in Russia and Ukraine is mainly for robusta and we are also starting to see an increase in conillon (robusta) exports out of Brazil which was to be expected as we estimated a record robusta crop there," Rabobank said in a note.

July arabica coffee KCc2 rose 1.6% to $2.0710 per lb after dipping to a six-month low of $2.0230 on Tuesday

Also read  Arabica coffee remains near 2019 lows