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Coffee prices edge up as global markets recover

Coffee futures on ICE edged up on Wednesday, underpinned by tight supplies and as global equities and oil recovered, though fears over the Omicron coronavirus variant kept gains in check.

March arabica coffee rose 0.1% to $2.2835 per lb​​, regaining some ground for a second day after falling by 4.5% on Monday.

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Dealers said prices are under pressure due to worries the surging Omicron coronavirus variant will hurt demand, as will the U.S. Federal Reserve tightening of monetary policy.

They added, however, arabica should find some support in the 2.20-2.25 range due to roaster buying.

March robusta coffee rose 0.4% at $2,325 a tonne.