1407 GMT - Arabica coffee futures rise to a record high on supply worries. ICE coffee futures rose 1.7% to around $4.05 a pound in European afternoon trading. They have climbed as high as $4.11 earlier in the session. The recent price rises reflect persistent supply concerns, especially in Brazil, ING analysts say in a note. There are suggestions that market conditions will remain tight as exchange inventories continue to fall, while the next harvest is set to suffer from bad weather, ING says. Adverse weather prior to October deteriorated harvest prospects for the crop, and market participants have reported bleak forecasts. Coffee futures have notched successive highs in nearly every session since mid-January. (joseph.hoppe@wsj.com)
(END) Dow Jones Newswires
February 06, 2025 09:07 ET (14:07 GMT)
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