Robusta coffee fell in London on speculation investors will continue to sell the futures just as crops start being harvested in Brazil and Indonesia, the second- and third-biggest growers of the variety. Cocoa rose.
Arabica coffee climbed for the first time in eight trading sessions in New York on speculation roasters may add more of the beans favored by Starbucks Corp. to blends. Sugar and cocoa in the city also rose.
Arabica-coffee futures that lost half their value in the past two years will extend their slump to the lowest price since 2009 as record global output led by Brazil overwhelms rising demand, a survey showed.
Zon Multimedia SGPS SA, Portugal’s biggest cable-television company, predicts the country’s pay- television growth will slow in next three to four years as the market matures, Chief Executive Officer Rodrigo Costa said.
Sonaecom SGPS SA, owner of Portugal’s smallest mobile-phone operator, rose the most in more than two years in Lisbon after an executive said a merger with Zon Multimedia SGPS SA, the country’s biggest-cable television provider, would be good for both sides.
The premium arabica coffee commands over robusta beans may fall by about 50 percent as Brazilian producers have sold less of their crop and robusta stockpiles in Europe continue to fall, according to Archer Consulting.
Coffee futures surged to a 13-year high on mounting concern that global supplies will trail demand, and commodities climbed to a 26-month high on signs of shortfalls in agriculture markets including sugar and cotton.