Arabica-coffee futures drop to seven-week low

Production woes: The robusta coffee fruits are seen in Brazil. Coffee prices soared last year as drought cut output in the country, and devastating frosts also cut the yield outlook for this season. — Reuters

NEW YORK: Arabica-coffee futures slid to the cheapest seven weeks on signs of improving supplies.

In Brazil, the biggest producer and exporter of high-end coffee, the local currency slumped against the dollar, which boosts incentives to sell raw materials priced in the greenback like coffee.