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Arabica and Robusta climbs up in International Markets

Coffee futures on ICE climbs higher on Wednesday as increased technical buying .

Arabica coffee was up 0.15 cents, or 0.11 percent, at $1.38 per lb.

Robusta coffee climbed $22, or 1.04 percent, to $2,132 per tonne, recovering from earlier day trade.

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On Tuesday Arabica fell from 3-1/2 month high to settle down 1.4 cent at $1.3785 per lb, after hitting technical resistance at $1.40 , the spot highest since April 20 on Monday.

Brazil exported 1.6 million 60-kg bags of coffee in July, compared to 1.91 million bags in the previous month and 1.74 million bags a year ago, the country’s trade ministry said on Tuesday.

Also read  Coffee market settles lower amid strong global exports

Source:

  1. Reuters
  2. timesofindia.indiatimes.com

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