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Arabica coffee slowly slipping since soaring

Arabica coffee futures on ICE closed down after hitting a highest in nearly seven years on Tuesday

* December arabica coffee KCc2 fell 1.3% to $1.8435 per lb.

* Arabica has been slowly slipping since soaring above $2 per lb in late July to its highest in nearly seven years following freak frosts in top producer Brazil.

* Brazil green coffee exports fell 27% in August from a year earlier due to shipping container and vessel space shortages, industry group Cecafe said.

* November robusta coffee LRCc2 fell 0.3% to $2,051 a tonne.

* Top robusta producer Vietnam’s coffee exports in August were down 8.7% from July, customs data showed. For the first eight months of 2021, Vietnam’s coffee exports fell 6.4% year-on-year.

Also read  Coffee Prices (Karnataka) on 17-06-2022