Arabica coffee falls amid high inventories

Source: Bloomberg
© Scanpix/RS
Coffee futures decreased to the weakest level in more than three years on Wednesday amid speculations that world supplies may exceed demand as inventories in Brazil, the world's largest exporter, advanced by 80%. Arabica coffee for delivery in July dropped 2% to $1.3005 a pound by 11:43 a.m. on the New York's ICE after it touched $1.2985 earlier on the session.

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