Commodities
Arabica Set for Biggest Weekly Gain in a Month on Supply Fears
- New York futures climb even as frost risk dissipates in Brazil
- Disappointing crops and new regulations seen pressuring prices
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Arabica coffee futures were headed for their biggest weekly gain in more than a month in New York as fears over supplies in top producer Brazil supported prices.
The contract is up about 5% this week after farmers in Brazil reported some isolated cases of frost last weekend. Prices climbed 28% this year on the back of low global inventories and concerns with production in Vietnam, the largest supplier of the cheaper robusta variety.