Arabica coffee extends rally as US tariff threats simmer

Coffee futures traded on ICE exchange rose on Wednesday, extending their rally as the US, in its latest tariffs salvo, said it would impose a 19% tariff on all goods from Indonesia, traditionally the world’s second-largest robusta coffee exporter.

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Cocoa hit multi-month lows on signs of faltering demand for the chocolate ingredient.

COFFEE: Arabica coffee settled up 11.1 cents, or 3.7%, at $3.0845 per pound (lb), having hit a three-week high of $3.0995.

Robusta coffee rose 0.6% to $3,427 a metric ton, and was headed for gains of 7% for the week.