Has coffee been grounded?

ARABICA coffee suffered its longest losing streak in three years as prices fell for eight consecutive days.

From Sept 14 to Sept 23, the most active futures - ICE Arabica Coffee Dec20 - fell from 123.05 cents/pound to 110.50 cents/pound. They recovered on the 24th to close at 111.15 cents/pound.

Brazil, the world's largest Arabica coffee producer and exporter, and the second largest Robusta producer after Vietnam, saw favourable weather this year which has led to a bumper crop. According to CONAB, Brazil's government crop agency, producing areas for both coffees rose 4 per cent in 2020.