Arabica coffee futures for March remained under pressure after hitting US$1.4945, the lowest level for the second month since June 2010, weighed down by forecasts of bumper output.
Dealers said the robusta market was expecting a large crop in Vietnam, albeit slightly smaller than last year.
The brokers Marex Spectron said the consensus was that the crop would be unchanged to 10 per cent lower than last year's 27 million bags, with the average at down 5 per cent.
Prices were down 0.55 cent, or 0.36 per cent, at $1.522 per lb at the close in London on Friday.
"The current arabica supply picture is comfortable and stocks are building," Marex Spectron said on Thursday, adding that a large Brazilian crop had allowed for restocking internally as well as exports.
"We favour arabica over robusta and expect the arabica market to improve given sharply lower prices, although an improved harvest in Brazil is likely to cap the upside," Standard Chartered said.
January robusta futures were up a marginal $3 at $1,905 a tonne after earlier dipping to $1,891.
Next year's coffee yield is likely to be bountiful, with Peru's crop expected to rise by 20 per cent.
Lower prices could send income from coffee exports down to $950 million, down by as much as 40 per cent from $1.57 billion.
This supply glut is already being felt in the commodity futures market.
Weak European demand will also probably contribute to lower coffee bean prices. Cafes in Europe are struggling to turn a profit as the weak EU economy has reduced disposable incomes.
Europeans are switching to cheaper, lower-quality coffees in response to these challenges.
Gourmet arabica coffee is preferred, but now Europeans are switching to robusta, a bitter but less costly alternative. This trend has worldwide consequences, since Europe has the greatest coffee consumption per person.
The spot price of arabica beans has fallen about 30 per cent because of the switch to robusta.
The downwards revisions for Vietnam's forecast production of robusta beans may continue to narrow the spread between these two beans.
TOURNAMENT INFO
Fixtures
Sunday January 5 - Oman v UAE
Monday January 6 - UAE v Namibia
Wednesday January 8 - Oman v Namibia
Thursday January 9 - Oman v UAE
Saturday January 11 - UAE v Namibia
Sunday January 12 – Oman v Namibia
UAE squad
Ahmed Raza (captain), Rohan Mustafa, Mohammed Usman, CP Rizwan, Waheed Ahmed, Zawar Farid, Darius D’Silva, Karthik Meiyappan, Jonathan Figy, Vriitya Aravind, Zahoor Khan, Junaid Siddique, Basil Hameed, Chirag Suri
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What is Folia?
Prince Khaled bin Alwaleed bin Talal's new plant-based menu will launch at Four Seasons hotels in Dubai this November. A desire to cater to people looking for clean, healthy meals beyond green salad is what inspired Prince Khaled and American celebrity chef Matthew Kenney to create Folia. The word means "from the leaves" in Latin, and the exclusive menu offers fine plant-based cuisine across Four Seasons properties in Los Angeles, Bahrain and, soon, Dubai.
Kenney specialises in vegan cuisine and is the founder of Plant Food Wine and 20 other restaurants worldwide. "I’ve always appreciated Matthew’s work," says the Saudi royal. "He has a singular culinary talent and his approach to plant-based dining is prescient and unrivalled. I was a fan of his long before we established our professional relationship."
Folia first launched at The Four Seasons Hotel Los Angeles at Beverly Hills in July 2018. It is available at the poolside Cabana Restaurant and for in-room dining across the property, as well as in its private event space. The food is vibrant and colourful, full of fresh dishes such as the hearts of palm ceviche with California fruit, vegetables and edible flowers; green hearb tacos filled with roasted squash and king oyster barbacoa; and a savoury coconut cream pie with macadamia crust.
In March 2019, the Folia menu reached Gulf shores, as it was introduced at the Four Seasons Hotel Bahrain Bay, where it is served at the Bay View Lounge. Next, on Tuesday, November 1 – also known as World Vegan Day – it will come to the UAE, to the Four Seasons Resort Dubai at Jumeirah Beach and the Four Seasons DIFC, both properties Prince Khaled has spent "considerable time at and love".
There are also plans to take Folia to several more locations throughout the Middle East and Europe.
While health-conscious diners will be attracted to the concept, Prince Khaled is careful to stress Folia is "not meant for a specific subset of customers. It is meant for everyone who wants a culinary experience without the negative impact that eating out so often comes with."
Zayed Sustainability Prize
Scoreline
Germany 2
Werner 9', Sane 19'
Netherlands 2
Promes 85', Van Dijk 90'
UAE squad
Esha Oza (captain), Al Maseera Jahangir, Emily Thomas, Heena Hotchandani, Indhuja Nandakumar, Katie Thompson, Lavanya Keny, Mehak Thakur, Michelle Botha, Rinitha Rajith, Samaira Dharnidharka, Siya Gokhale, Sashikala Silva, Suraksha Kotte, Theertha Satish (wicketkeeper) Udeni Kuruppuarachchige, Vaishnave Mahesh.
UAE tour of Zimbabwe
All matches in Bulawayo
Friday, Sept 26 – First ODI
Sunday, Sept 28 – Second ODI
Tuesday, Sept 30 – Third ODI
Thursday, Oct 2 – Fourth ODI
Sunday, Oct 5 – First T20I
Monday, Oct 6 – Second T20I
COMPANY PROFILE
Founders: Sebastian Stefan, Sebastian Morar and Claudia Pacurar
Based: Dubai, UAE
Founded: 2014
Number of employees: 36
Sector: Logistics
Raised: $2.5 million
Investors: DP World, Prime Venture Partners and family offices in Saudi Arabia and the UAE
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