Aug. 31 (Bloomberg) -- World coffee exports jumped 18 percent in July, the International Coffee Organization said.
Shipments increased to 9.11 million bags from 7.73 million a year earlier, the London-based group said today on its website. The total in the 10 months ended July 31 rose 1.5 percent to 90.4 million bags.
Exports of arabica beans climbed 15 percent in July to 5.35 million bags from a year earlier, and shipments of robusta coffee increased 22 percent to 3.76 million, the figures show. A bag weight 60 kilograms, or 132 pounds.
Arabica is grown mainly in Latin America and brewed by specialty companies including Starbucks Corp. Robusta, used in instant coffee, is harvested mostly in Asia and parts of Africa.
On ICE Futures U.S. in New York, arabica futures for December delivery rose 0.6 percent to $1.6435 a pound at 1:32 p.m. This year, the price has slumped 28 percent, the biggest drop among 24 raw materials in the Standard & Poor’s GSCI Spot Index.
Robusta futures for November delivery gained 0.6 percent to settle at $2,077 a metric ton on the NYSE Liffe exchange in London. The price has gained 15 percent this year.
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