Arabica coffee hits four-month high; sugar, cocoa ease

Arabica coffee futures on ICE rose to a four-month high on Friday boosted by tight supplies in the US following the imposition of a 50% tariff on shipments from Brazil.

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COFFEE: Arabica coffee settled up 10.75 cents, or 2.8%, at $3.9685 per pound (Ib) after climbing to a four-month high of $3.9855.

Arabica gained 6.2% in the week.

“The main drivers of bullish sentiment continue to be concerns that the Brazilian coffee harvest will be smaller than initially expected and the US imposition of 50% tariffs on Brazilian exports, contributing to low stocks in the US,” BMI analyst said in a note.