It does. But it is very minor.
Also, keep in mind that Huel provides a more complete nutritional profile than probably anything you or I ever consumed beforehand. So the most extreme example: caffeine can reduce iron absorption by 80%. If you break down Huel in four meals and have coffee with the first meal you would lose 20% of your total iron RDI.
The point being, you still ingest 80% of your RDI of iron, which is 1) fine, and 2) probably more than you were getting before Huel.
(Iron is, by far, the most extreme “possible loss,”)
The effect of caffeine on vitamin absorption.
“A cup of coffee or green tea a day is not likely to have a negative effect on your overall health.”
Does caffeine affect the absorption of vitamins or minerals?
“In otherwise healthy people, the negative effects of caffeine on vitamin and mineral absorption are probably insignificant.”