Arabica Coffee Heads for Worst Quarter Since 2015 on Demand Woes
- Prices slumped as lockdowns, economic slowdown hurt demand
- Price may bottom out as clearer demand picture emerges: Sopex
Workers dry arabica coffee beans at a ranch Mexico.
Photographer: Cesar Rodriguez/BloombergThis article is for subscribers only.
Coffee headed for the biggest quarterly loss in five years in New York on concern that the global health crisis is hurting demand.
Arabica futures tumbled 16% since the end of March as lockdowns and a global economic slowdown hurt consumption at a time when Brazil is harvesting a record crop. Money managers are also turning increasingly bearish and are now holding their biggest net-short position in more than seven months.