Arabica coffee sets 7-month low by weakening demand

Arabica coffee futures on ICE fell to a seven-month low on Friday weighed by weakening demand and the prospect of increasing supplies.

July arabica coffee settled down 2.8 cents, or 2.8%, at 96.3 cents per lb, a seven-month low.

Maximiliano said that considering good harvests and falling demand due to lockdowns, the surplus in global coffee balance could be bigger than expected.

July robusta coffee settled down $8, or 0.7%, at $1,169 a tonne, with demand for robusta seen more resilient as a higher proportion of the beans are consumed at home.