LONDON, Aug 2 (Reuters) - The volume of arabica coffee options traded on ICE in July hit record highs as frosts in Brazil led to a surge in prices, the exchange said on Monday.
The monthly total for arabica coffee options totalled a record 664,648 contracts.
A sudden frost on the morning of July 20 delivered a blow to the heart of Brazil's coffee belt, damaging trees and harming prospects for next year's crop.
The frost sparked a flurry of trading with arabica coffee futures prices rising to the highest level in nearly seven years.
The daily record for arabica options was broken twice, first on July 21 with 61,922 contracts, only for that total to be exceeded the following day with 84,165 contracts.
The previous record had been 48,637 lots set on June 5. (Reporting by Nigel Hunt Editing by Chris Reese)
