Coffee turns lower despite lingering frost fears in Brazil

2021-07-29 14:05:25 GMT (Economies.com)
Coffee turns lower despite lingering frost fears in Brazil

Coffee prices fell on Thursday, despite the US dollar's drop against most currencies, and lingering concerns over the cold weather in Brazil.

 

The Brazilian Public Food Commissariat reported last week that there were frost waves that affected 150,000 to 200,000 hectares, or about 11% of the country's coffee-grown areas in the country.

 

Coffee traders said that this is the first time since 1994 that Brazil has experienced such bad weather, which foreshadows several other upcoming frost waves.

 

The dollar index fell against a basket of major currencies by 0.3% to 92 points as of 13:29 GMT, after hitting a high of 92.2 points and a low of 91.9 points.

 

As of 13:30 GMT, coffee spot prices fell 1.7% to $1.97 a pound, after last week's 20% gain.

 
 
 
  Symbol Last Change Chg.%
1.0742
0.0089
0.8350%
1.2621
0.0059
0.4665%
22.113
0.201
0.920%
113.718
3.579
3.249%
117.02
-0.37
0.32%
1854.340
-2.095
0.113%
 
 
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