The price of Robusta coffee has fallen for a second day in London

PRLog (Press Release) – Mar 06, 2008 – The price of Robusta coffee has fallen for a second day in London on speculation funds sold futures contracts, Bloomberg reports.

Robusta coffee for delivery in May fell $21, or 0.8 per cent, $2,731 a metric ton on the Liffe exchange.

"Speculators are looking to take their chips off the table,'' Eugen Weinberg, a commodities analyst at Commerzbank, told the new agency.

"Robusta's posted a strong performance since the beginning of the year. No bull-run is a one-way street."

The International Coffee Organisation said World coffee production of between 123 million and 125 million bags will be just enough to meet demand in the year to October 2009. Global consumption is estimated to be 123 million 60 kilogram bags.

Kraft Foods, the world's second-largest food company, has raised Maxwell House and Yuban coffee prices by about seven per cent, following the increase of the cost of wholesale beans.

Further analysis of coffee prices could be supplied by Aranca, an end-to-end provider of on-demand, custom investment, business and economic research.