Arabica coffee futures fall to one-year low weighed down by Central America pressure
Monday, December 19, 2011
Arabica coffee futures on the International Coffee Exchange fell to a one-year low for the fourth time last week, weighed down by harvest pressure from Central America.
"The arabica harvest should be expanding pretty quickly across Central America now. I think there's some stuff starting to move," said Jack Scoville, The Price Group in Chicago.
March arabica coffee on ICE dropped 2.65 cents, or 1.2 percent, to settle at $2.1510 per lb, the lowest settlement for the second-position contract since December 10 last year, weighed down by harvest pressure from Central America.
Original source: Economic Times