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Coffee prices down on dollar strength And demand concerns

Coffee prices this morning are moderately lower, with arabica falling to a 2-week low.  a rally in the dollar index today to a nearly 2-year high is weighing on commodity prices, including coffee. 

July arabica coffee KCc2 fell 0.5% to $2.2405 per lb, having closed down 3.6% on Wednesday.

Arabica is facing demand headwinds from the impact of the Russia-Ukraine war, but is being underpinned by a relatively strong Brazilian real BRL= and a recent decline in ICE certified stocks.

July robusta coffee LRCc2 slipped 0.3% to $2,099 a tonne.

The robusta coffee discount to ICE futures in top producer Vietnam remained steady this week on thin buying demand and lower stockpiles at the end of the harvest season.

Also read  Coffee Prices (Karnataka) on 08-11-2021