Robusta coffee falls for 1st time in 4 days in London
Tuesday, 13 July 2010
LONDON, July 12 (Bloomberg): Robusta coffee fell for the first time in four days in London on speculation prices climbed too high to reflect the outlook for supply and demand.
Robusta for September delivery slid as much as 2.2 per cent to $1,671 a metric tonne and was trading at $1,680 a tonne on the Liffe exchange at 10:50 am The beans gained 3.6 per cent during the three-day advance. The milder arabica variety retreated as much as 3 per cent to $1.590 a pound on ICE Futures US in New York.
World coffee production may rise 12 per cent to 135 million bags next season on gains in output from Brazil, the largest grower, the International Coffee Organisation said last week.
Robusta for September delivery slid as much as 2.2 per cent to $1,671 a metric tonne and was trading at $1,680 a tonne on the Liffe exchange at 10:50 am The beans gained 3.6 per cent during the three-day advance. The milder arabica variety retreated as much as 3 per cent to $1.590 a pound on ICE Futures US in New York.
World coffee production may rise 12 per cent to 135 million bags next season on gains in output from Brazil, the largest grower, the International Coffee Organisation said last week.