bags, the highest level since 2008, as better weather helps flowering, the country's coffee federation said.
A shortage of arabica coffee from Colombia, suffering from several consecutive smaller crops, has fueled the coffee rally and a drawdown of stocks.
ICE arabica futures have doubled in price over the past eight months and surged on Tuesday to the highest level in more than 30 years at $2.7840 per lb. But coffee prices fell back on Thursday in its weakest two-day performance in a month on investor liquidation.
"News from Colombia regarding the health of the crop has been encouraging but the market will prefer to see this in physical stocks," said Abah Ofon, analyst at Standard Chartered Bank.
Dealers said coffee roasters have been increasing the use of cheaper robusta coffee in their blends where possible.
"It helps to give them a bit of breathing room," said Bill Raffety, senior analyst for futures brokerage Penson Futures in New York, referring to Colombia's higher crop forecast.
The Andean country produced 8.9 million bags last year and 7.8 million in 2009. In 2008, it produced 11.1 million bags, about its historic annual average. For the latest updates PRESS CTR + D or visit Stock Market news Today
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