Robusta coffee prices ease

LONDON, July 4 (Reuters): Robusta coffee prices eased on Friday but remained above last week's one-year low.

New York-based arabica coffee, raw sugar and cocoa contracts were closed on Friday due to a public holiday in the US.

Robusta coffee fell 0.3% to $3,615 a metric ton by 1116 GMT, hovering above last week's one-year low of $3,459.

Coffee prices have fallen this year, erasing some of the sharp gains in 2024, with robusta futures down around 26% since the end of last year.

"The most important reason for the significant price correction is the expectation of increasing coffee supply. The coffee harvest is in full swing in Brazil, by far the largest producer country," Commerzbank said in

a note.