Coffee futures reach new heights! On Monday, New York for Arabica went up by 2.6% and London for Robusta up by 1.4%
Coffee futures in New York and London rallied to new highs on Monday. These are highs not seen in 10 years. A reason for this is because of prospects of a supply deficit for this coffee year and persistent shipping bottlenecks. Arabica contract for March delivery closed 2.6% up at $2.4985 per lb, having earlier hit an intraday high of $2.5085, the highest since October 2011. The contract for Robusta delivery in January rose 1.4% to $2,420 a tonne, after rising earlier to $2,437, the highest since August 2011.