Coffee Arabica price falls to 19-month low

The price of Arabica coffee fell yesterday for the fifth consecutive day of trading and hit a 19-month low of 117 US cents per pound. It remains to be seen whether the coffee price will continue trading at this low level given that Cooxupe - the largest Brazilian coffee cooperative - assumes that it will be 2017 before the Brazilian coffee crop recovers significantly from the drought of the past two years, says Commerzbank. All the same, the forecasted rain can be viewed as a positive signal, as it could aid pollination for the next season's crop.