NEW YORK: Arabica coffee futures trading on ICE Futures US closed 2012 down 36.6 percent on Monday, their weakest yearly performance since 2000, giving them the position of the weakest performer on the Thomson Reuters-Jefferies CRB index by far.
Record global coffee production and a general resistance by producers in top grower Brazil to sell have weighed heavily on the market.
The benchmark March contract settled down 3.05 cents, or 2.1 percent, at $1.4380 per lb on the day.
The spot contract finished the month of December up 1.2 percent but closed the fourth quarter down 17 percent.
Center>Copyright Reuters, 2012
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