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Coffee Closes Lower On Demand Concerns

Coffee prices Thursday posted moderate losses on continued demand concerns.  Last Friday, arabica fell to a 2-month low, and robusta dropped to a 1-month low last Thursday, on concern that the spike in energy prices caused by Russia’s invasion of Ukraine will derail the global economy.

 ICE-certified arabica stocks, which fell below 1 million bags last month to their lowest level in 20 years, have slowly begun rising and are currently at 1.009 million bags. 

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Weather conditions continue to be favorable to coffee areas in Brazil prior to harvest kickoff, dealers said.

Domestic coffee prices in top robusta producer Vietnam edged up on Thursday from a week earlier as exporters halted shipments to Russia over payment and logistics problems.

May arabica coffee  settled down 5.1 cents, or 2.2%, at $2.242 per lb.

May robusta coffee  fell $24, or 1.1%, to $2,093 a tonne.

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