New York Futures: Arabica coffee futures fall to a July low as Brazilian production forecasts are raised
New YORK / London (Reuters)-ICE Arabica coffee futures fell more than 3% on Wednesday to their lowest level in about five months as Volcafe expected Brazilian coffee production to rise next year, while raw sugar rebounded to a two-and-a-half-month low.
Cocoa futures rose for the fourth day in a row.
Arabica coffee futures fell after Volcafe said in a report that Brazilian coffee bean production next year is expected to be higher than this year, reaching 49.5 million bales (60 kilograms each) after heavy rainfall in November. Volcafe is the Swiss coffee arm of commodity trading house ED&F Man.
March Arabica coffee futures (KCc2) settled down 5.85 cents, or 3.3%, at $1.7185 a pound, after falling to $1.7115, the lowest since July 23.
March Robusta coffee futures (LRCc2) closed down $18, or 0.9%, at $1946 a tonne.
Sugar trading fluctuated, continuing its decline in early trading, but then rebounded, following the rise of US crude oil. Traders said producers sold, limiting the rise in sugar futures.
ICE- March raw sugar futures (SBc1) settled up 0.01 cents, or 0.07%, at 14.72 cents per pound, hitting an intraday low of 14.62 cents since Sept. 24.
March white sugar futures (LSUc1) closed up $1, or 0.3%, at $384.70 a tonne, hitting a contract low of $383.00.
London March Cocoa Futures (LCCH5) closed up 11 pounds, or 0.6%, at 1939 a tonne. New York March Coco Futures (CCH5) closed up $1, or 0.03%, at $2915 a tonne. (end)
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Pu'er City has been approved to build a demonstration zone for well-known brands in the national coffee industry.
Recently, AQSIQ sent a letter to the people's Government of Pu'er City, agreeing to build a demonstration zone for well-known brands of the national coffee industry in Pu'er City. This is the first coffee industry well-known brand demonstration zone approved by AQSIQ since the establishment of a demonstration zone for national well-known brands was carried out in 2011. The cultivation of coffee in Pu'er began in 1892 and is the first region in Asia to grow coffee.
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Starbucks plans to operate in a micro-batch model to launch single-origin coffee
According to a report on the website of Forbes magazine on December 15, Starbucks, the world's largest coffee chain, recently announced the opening of its first high-end flagship coffee store called Starbucks boutique roasting and tasting room, and launched single-origin coffee. to further prove its coffee-making process. Like wine, Scotch Whisky, olive oil and cocoa beans, a single origin can combine a variety
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