Coffee market news morning 17/01/2018

The price of Arabica coffee futures on ICE Futures US continues to decline due to the prospect of producing 2018/19 Brazil coffee reached a record high.

At the close, Arabica coffee futures for March delivery fell 1.80 cents / lb to 120.45 cents / lb. Meanwhile, Robusta coffee price in March decreased $ 2 / ton up to $ 1,727 / ton.

"New York traders are now tracking the favorable weather conditions in the Brazilian coffee producing regions with a good season.

The International Coffee Organization (ICO) last week did not support the upward trend in coffee prices due to an increase in global coffee supplies, said Jack Scoville, analyst and vice president of Price Futures Group. identify.

In a recent report, Reuters reported that the Brazilian coffee industry is evaluating the prospects for Brazilian coffee output in the 2018/19 season to reach a record high.

"Coffee production this year may surpass (previous record levels), as conilon production is improving," said Cesar de Castro, who oversees Arabica coffee and forgets conilon coffee. Alves at MB Agro.

(For reference only)