Arabica-Coffee Futures Ease, Hover Above 4 1/2-Year Lows
NEW YORK - Arabica-coffee futures slipped Monday morning as the market
continued to be pressured by massive supplies.
Global supplies of coffee beans have swelled thanks to back-to-back bumper
crops from Brazil, the source of one-third of the world's coffee, and
recovering production from neighboring Colombia. Coffee futures hit fresh
four-and-a-half year lows last week of $1.1320 a pound.
Arabica coffee for December delivery on the ICE Futures U.S. exchange was
recently 0.6% lower at $1.1375 a pound in very thin volume. Traders say futures
could head as low as $1 a pound, a level futures last touched in September
2006, before the market finds a bottom.
Growers in Brazil are expected to harvest 47.5 million 60-kilogram
(132-pound) bags of coffee this year, a record for an "off-year" harvest,
government crop agency Conab has said.
Nenhum comentário:
Postar um comentário