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Robusta and Arabica coffee futures edges up

Robusta and Arabica coffee futures on ICE rose on Tuesday, edging up towards the prior session’s four-year high.

* November robusta coffee LRCc2 rose 0.5% to $2,162 a tonne by 1152 GMT. The benchmark second position set a four-year high of $2,178 on Monday.

* The market continued to derive support from a pick-up in demand for robusta coffee linked to the high cost of arabica beans and disruptions to the flow of supplies from Vietnam due to a shortage of container freight.

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* December arabica coffee KCc1 rose 1% to $1.8485 per lb.

* Lower production in Brazil, driven partly by drought and frost, has helped to tighten arabica supplies.

* Brazil’s coffee crop is expected to drop 25.7% this year compared with the record 2020 season, when 63 million bags were produced, according to Conab.

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