Coffee Declines to Lowest in 15 Months on Global Supply Outlook
This article is for subscribers only.
Arabica-coffee futures fell to the lowest in more than a year amid signs of increasing global supplies and improved crop prospects for Brazil, the world’s biggest producer.
In the season starting Oct. 1 in most countries, output will probably be 154.5 million bags, up 1.7 million bags from a February estimate, Keith Flury, head of coffee research at Winterthur, Switzerland-based Volcafe, wrote in e-mailed report. The analyst also boosted the forecast for the current season by 1.6 million bags as Brazil recovers from a drought last year, and cut the outlook for demand.