May arabica coffee (KCK25) Tuesday closed up +5.15 (+1.31%), and May ICE robusta coffee (RMK25) closed up +90 (+1.64%).
Coffee prices on Tuesday posted moderate gains, with robusta climbing to a 2-1/2 week high. Weather concerns in Brazil and Vietnam are boosting coffee prices. Cooxupe, Brazil's largest arabica coffee co-operative, said high temperatures and below-normal rainfall last month in Brazil should negatively affect coffee yields this year. Brazil is the world's largest producer of arabica coffee. Also, the Dak Lak weather office said last Friday that Vietnam's main coffee-producing region, Central Highlands, is expected to get more hot weather and less rainfall for the March 21-31 period. Vietnam is the world's largest producer of robusta coffee.
