Arabica Coffee prices hit one month peak
March arabica coffee rose 2.7% to $2.4350 per lb, having hit a one month peak of $2.4370.
Dealers said lower exports and lower stocks at destination ports are continuing to highlight the coffee market tightness.
The International Coffee Organisation noted coffee exports from top producer Brazil plunged more than 30% year-on-year in October and November.
“The unfavourable weather seen last year in Brazil is likely to continue having after-effects,” said Commerzbank in a note.
March robusta coffee rose 0.9% to $2,289 a tonne.
