Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Arabica-Coffee Futures Drop to Two-Week Low on Ample Supplies

Coffee futures fell to a two-week low in New York on ample supplies in Brazil, the world’s top producer and exporter, just as European consumers face a second year of economic contraction.

Brazilian farmers sold 60 percent of this year’s crop by Dec. 31 compared with 76 percent a year earlier, consulting firm Safras & Mercado said Jan. 17. In 2012, the country’s exports to Europe, the biggest consuming region, sank 15 percent, according to data from Cecafe, the nation’s exporters’ council. Yesterday, the International Monetary Fund cut its global growth forecast, projecting a second year of contraction in the euro region.

“Brazil has been holding back a lot of coffee,” Hernando de la Roche, a senior vice president at INTL FCStone in Miami, said in a telephone interview. “There’s concern about who’s going to buy it” as Europe’s economy shrinks, he said.

Arabica coffee for March delivery tumbled 2.6 percent to settle at $1.4655 a pound at 2 p.m. on ICE Futures U.S., after touching $1.461, the lowest for a most-active contract since Jan. 9.

Stockpiles at warehouses monitored by ICE climbed to 2.612 million bags yesterday, the highest since March 2010. The inventories surged 68 percent in 2012, the biggest gain since 2000, exchange data show. A bag weighs 60 kilograms, or 132 pounds.

The ample supplies are overshadowing concern that leaf rust, a fungus that attacks foliage, will curb output in Central America and Mexico, de la Roche said.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.