Coffee Closes Lower On Demand Concerns

Coffee prices Thursday posted moderate losses on continued demand concerns.  Last Friday, arabica fell to a 2-month low, and robusta dropped to a 1-month low last Thursday, on concern that the spike in energy prices caused by Russia’s invasion of Ukraine will derail the global economy.

 ICE-certified arabica stocks, which fell below 1 million bags last month to their lowest level in 20 years, have slowly begun rising and are currently at 1.009 million bags. 

Weather conditions continue to be favorable to coffee areas in Brazil prior to harvest kickoff, dealers said.

Domestic coffee prices in top robusta producer Vietnam edged up on Thursday from a week earlier as exporters halted shipments to Russia over payment and logistics problems.

May arabica coffee  settled down 5.1 cents, or 2.2%, at $2.242 per lb.

May robusta coffee  fell $24, or 1.1%, to $2,093 a tonne.