Arabica coffee settles down, hits six-week low
Arabica coffee futures on ICE settles lower on Wednesday after slumping to a six-week low, dragged down by a broad-based decline in commodity markets linked to concern over the banking sector as well as a stronger dollar.
May arabica coffee settled down 2.85 cents, or 1.6%, at $1.726 per lb after touching a six-week low of $1.7105.
Dealers also noted exchange arabica coffee stocks were edging back up again after recently falling to the lowest level this calendar year.
Certified arabica stocks at the Intercontinental Exchange stood at 785,577 60-kg bags on March 15 – the highest level in almost two weeks.
May robusta coffee settled down $11, or 0.5%, at $2,069 a tonne.