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Arabica coffee futures for delivery in May lost 4.25 cents to settle at $1.3590 a pound, the lowest settlement in two weeks. Top coffee grower Brazil exported 11% more coffee in March than a year ago, while Colombia's coffee exports that month rose 12%. Colombia's coffee production rose 7% in March, despite a two-week strike by thousands of the nation's farmers. Higher shipments from the two countries--the source of more than one-third of the world's coffee--are helping to counter crop loss due to an outbreak of a coffee-eating fungus in Central America and Mexico. The International Coffee Organization said in a report on Monday that increased production in other countries has "compensated" for the damage caused by coffee-leaf rust in Central America.
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