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Arabica hits four-year highs amid tightening supplies

Arabica prices hit fresh four-year highs on Thursday, boosted by tightening supplies in top producer Brazil.

* July arabica coffee hit a four-year peak of $1.5365 during the session. The contract closed at $1.5295.

* The Colombian coffee federation asked the government for an urgent solution for transportation problems. Anti-government protests have disrupted coffee exports in the country, the world’s second largest arabica exporter.

* Brazil’s crop forecast has been revised down by consultancy Safras & Mercado, with arabica output seen 31% down.

* Coffee exports from Guatemala, the world’s sixth largest arabica exporter, are set to fall by up to 3% this season due to a lack of workers and erratic rains.

* July robusta coffee settled down $12, or 0.8%, at $1,490 a tonne.

* Robusta export premiums in Vietnam, the world’s top robusta producer, tightened this week amid a dearth of supply.

Also read  Arabica coffee edges higher after monday steep fall