ICE Said to Propose Changes to London Robusta Coffee Contract
- Traders bringing beans to ICE would pay for warehouse removal
- Rules aim to prevent deals favoring some traders over others
A worker stacks bags of unroasted robusta coffee beans in the warehouse at Banaran Coffee Plantation in Bawen, Semarang regency, in Central Java, Indonesia.
Photographer: Dimas Ardian/BloombergThis article is for subscribers only.
Intercontinental Exchange Inc. has proposed changes to its robusta coffee contract to provide a level playing field for all buyers and sellers, according to people familiar with the matter.
Under the plan, traders bringing coffee from producing countries to be delivered against ICE’s London futures would pay the fee for removing the beans from bourse-approved warehouses, said the people, who asked not to be identified because the talks are private. At present, buyers are responsible for paying load-out charges.