COMMODITIES . Arabica coffee fell from the highest in almost 14 years on speculation that production may rise in Colombia, the world's second-largest producer. Cocoa, sugar, and orange juice also declined.
Colombia's output may jump as much as 6.7 per cent from last year, a growers group said on Feb. 24.
Weather in the past two months was "perfect for a nice flowering" in the South American country, Hamburg-based coffee broker Eugen Atte said in a report Friday. Prices have more than doubled in the past year on concern demand will outpace supplies.
"Colombia's most recent figures appear to be relatively stable," said Mu Li, an analyst at CPM Group in New York. "They are in line with expectations, easing some supply concerns."
Arabica coffee for May delivery dropped 1.95 cents to settle at $2.728 a pound.
(Source: http://www.calgaryherald.com/business/Coffee+price+drops+supply+concerns+ease/4394364/story.html)
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