March arabica coffee (KCH26) on Wednesday closed down -1.00 (-0.37%), and January ICE robusta coffee (RMF26) closed down -36 (-0.83%).
Coffee prices settled lower on Wednesday, with robusta falling to a 1.5-week low. The outlook for ample coffee supplies is weighing on prices after the European Parliament last Wednesday approved a 1-year delay to the deforestation law, which would keep coffee supplies ample. The EU regulation, known as EUDR, aims to tackle deforestation in countries whose exports into the EU include key commodities such as coffee, soybeans, and cocoa. The delay of the EUDR will allow EU countries to continue importing agricultural products from regions in Africa, Indonesia, and South America where deforestation is occurring.
