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Arabica coffee hits a nine month low

Arabica coffee futures on ICE hit a nine month low on Tuesday, while robusta coffee followed suit by plumbing a six month trough amid favourable weather in top producers Brazil and Vietnam.

January robusta coffee fell 0.4% to $2,234 a metric ton by 1302 GMT, after hitting a low of $2,223.

Dealers noted favourable weather in Vietnam, where farmers are rushing to pick up early ripen cherries as the harvest begins.

Coffee exports from top robusta producer Vietnam fell an annual 8.3% in the first nine months of 2023, government data showed.

December arabica coffee fell 1.1% to $1.4445 per lb, having hit a low of $1.4370.

Dealers said it is still raining in top producer Brazil and coffee trees are flowering well in response.

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