Coffee Service

Coffee futures sag on Omicron variant, Brazil rains

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December 21, 2021

Coffee, cocoa and sugar futures fell Monday in response to the rapid growth of the Omnicron COVID-19 variant, which caused losses in commodity markets, according to a Reuters report

March arabica coffee KCc2 fell 3.7% to $2.2615 per pound as the market pulled back from $2.5235, a 10-year high set on Dec. 7.

Badly needed rains in Brazil, the top producing country, early this month also contributed to the lower prices.

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