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Arabica Coffee Tumbles to Cap Biggest Weekly Loss Since July

  • Brazil export woes drove prices to decade high this week
  • Traders monitor shipping, producer supply response to rally
Updated on

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.