SOFTS-Arabica coffee edges up as Brazil currency recovers ground
LONDON, Dec 14 (Reuters) – Coffee futures on ICE rose on Tuesday while sugar prices also edged higher as the currency of Brazil, the top exporter of both commodities, regained some ground after its recent slump.
A stronger Brazilian real BRL= deters farmers and exporters from selling dollar-denominated arabica coffee by lowering returns in local currency terms.
COFFEE
* March arabica coffee KCc2 rose 0.6% to $2.3815 per lb by 1511 GMT.
* Dealers said the outlook for next year’s crop in Brazil remained the key market focus after drought and frost this year damaged many trees and dented future production prospects.
* March robusta coffee LRCc2 rose 0.3% to $2,293 a tonne as the market continued to be supported by lower exports from top robusta producer Vietnam.
* For the first 11 months of 2021, Vietnam exported 1.4 million tonnes of coffee, down 2.3% from a year earlier, Vietnam Customs said in a statement.
(Source: https://www.nasdaq.com/articles/softs-arabica-coffee-edges-up-as-brazil-currency-recovers-ground )