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Arabica coffee prices rise on Brazil weather concerns

Arabica coffee futures rose on Thursday, lifted by light fund buying against a backdrop of scarce producer selling in Central America.

    * ICE March arabica coffee        settled up 1.9 cents, or 1.84 percent, at $1.053 per lb. 
    * “There’s some nervousness that you don’t have a lot of surplus if there is a short-fall to provide the basis for concerted price pressure from these levels,” Steven Platt,futures strategist at Archer Financial, said. 

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    * Dealers said the market was supported by light speculative buying after prices held up well in the face of recent attempts to break through key technical support levels.
    * Volumes were light, though, with producers reluctant to sell beans at current levels, dealers said.  
    * March robusta coffee rose $25, or 1.6 percent, to $1,548 a tonne. 
    * Prices slipped to a three-week low of $1,507 a tonne on Wednesday, pressured by a pick-up in selling in top grower Vietnam ahead of the Tet holiday, dealers said.
    * Coffee shipments from Vietnam are expected to jump in January as traders rush to fulfil orders before next month’sweek-long Lunar New Year holiday.
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