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Arabica Coffee prices up on tight supplies

March Arabica coffee was up 1% at $2.3720 per lb.

Dealers said the market continued to derive support from tight supplies after a sharp decline in exports from top coffee producer Brazil.

The March contract could retest resistance at $2.3865 per lb, a break above which could continue as high as $2.4260, Reuters market analyst Wang Tao said.

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March robusta coffee rose 0.1% to $2,262 a tonne.

Dealers noted that the harvest in top robusta producer Vietnam is now about 90% complete.

Indonesia exported 32,992 tonnes of Sumatran robusta coffee beans from Lampung province in December, local trade office data showed on Tuesday, more than double exports in the same month last year.

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