LONDON, Aug 2 (Reuters) – The amount of arabica espresso choices traded on ICE in July hit file highs as frosts in Brazil led to a surge in costs, the change mentioned on Monday.
The month-to-month complete for arabica espresso choices totalled a file 664,648 contracts.
A sudden frost on the morning of July 20 delivered a blow to the center of Brazil’s espresso belt, damaging timber and harming prospects for subsequent yr’s crop.
The frost sparked a flurry of buying and selling with arabica espresso futures costs rising to the very best degree in practically seven years.
The each day file for arabica choices was damaged twice, first on July 21 with 61,922 contracts, just for that complete to be exceeded the next day with 84,165 contracts.
The earlier file had been 48,637 heaps set on June 5.
(Reporting by Nigel Hunt Modifying by Chris Reese)
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