• Print
• E-Mail

SAN FRANCISCO - Robusta coffee remained steady on Monday due to high demand for the beans from consumers and investors, after posting declines since December last year.

Earlier in the session, Robusta coffee gained $15 or 0.8 percent, to $2,003 a metric ton on the Liffe exchange in London but closed down $3 or 0.2 percent, lower at $1,985 a metric ton.

Last year, coffee made the biggest decline since the week ended Dec. 7 when it fell 2 percent.

The International Coffee Organization predicted that world coffee production may increase by 8.6 percent to 126 million bags in the 2008-09 season.

Last year, Robusta, used in espresso and instant coffee increased 20 percent.

Cocoa posted declines when its March decline fell 12 pounds, or 1.1 percent, to 1,116 pounds ($2,170) a ton.

Cocoa's fall came as workers at Ivory Coast's Coffee and Cocoa Exchange, which registers cocoa for export, suspended their strike over bonuses.