Traders are waiting to see what Brazil is going to do after having suspended coffee export registrations last Thursday while it reviews its position on quotas.

The surge was reminiscent of a 5-cent intraday spike that occurred March 22 after Brazil, the world's largest producer, unexpectedly suspended coffee export registrations for two weeks.

The UK arm of coffee chain Starbucks signed up for a charity initiative based on the suspended coffee concept in April 2013, in which it said it would match the value of each suspended coffee with a cash donation to the Oasis charity.