Arabica coffee futures falls to two months low

arabica coffee futures on ICE lost nearly 4% on Wednesday as a rise in exports from top grower Brazil helped ease concerns about short-term supply tightness.

December arabica coffee settled 8.1 cents, or 3.7%, lower at $2.0975 per lb​, the lowest price in more than two months.

Arabica coffee exports from Brazil rose 18% to 2.93 million bags in September compared to the same month last year, industry group Cecafe said late on Tuesday.

Dealers noted that rains in Brazil had aided the flowering in coffee fields, a key development for next year’s crop, although there is a long way for crop development.

ICE certified arabica stocks were unchanged at 416,399 bags.

January robusta coffee fell $19, or 0.9%, at $2,141 a tonne.