NEW YORK, Nov 15 (Reuters) - Traders delivered additional volumes of arabica coffee at warehouses of the Intercontinental Exchange (ICE) in Europe to be graded and possibly enter the exchange's certified stocks, ICE said in a daily report on stocks on Wednesday.
A total of 2,865 bags of coffee from Tanzania, Burundi and Honduras appeared on the report as "coffee pending grading." Another volume of 4,400 bags of Brazilian coffee, which appeared on Monday's report, are also waiting to be graded.
The total volume of 7,265 bags is not large considering the amount of coffee traded at the exchange, yet it is the first sign that a recent recovery on arabica coffee prices is starting to drive physical deliveries at the exchange.
Arabica coffee prices rose more than 2% on Wednesday to the highest levels since June as speculators moved in the period from short to long position amid logistic bottlenecks in top grower Brazil, low stocks at destinations and low certified stocks at the exchange.
ICE arabica certified stocks fell to the lowest in 24 years on Tuesday at 297,100 bags.
Soft commodities analyst Judith Ganes said it is the first time in a decade that coffee from Tanzania reaches ICE's delivery point in Hamburg. For the coffee from Honduras and Burundi pending grading in Antwerp, it is the first time since early this year, she said.
"It ain't much but trickles can turn to streams," Ganes said in comments on X, formerly Twitter.
The analyst believes the move is likely to be linked to the need by some traders to have deliverable coffee at the exchange before the expiration of the December contract next month. (Reporting by Marcelo Teixeira; Editing by David Gregorio)
