Arabica coffee futures slumped to cap the biggest weekly loss since July, easing pressure on buyers who are paying the highest prices in years.
The most-active March arabica contract dropped 3.2% to $2.326 a pound in New York on Friday, retreating from a decade high reached on Monday and marking the first weekly decline since Oct. 22. The futures ended down 4.4% for the week, bringing this year’s gain to 81%. Shipments from top exporter Brazil declined 37% in November from a year earlier, while second-ranked Colombia also saw exports and output tumble.
