Arabica coffee set for largest annual increase since 1994
Arabica coffee futures are about to register their largest annual gain in a quarter-century due to a global deficit.
Arabica coffee futures jumped 78% to about $2.30 per pound in New York this year, putting it on track for the best year since 1994.
“Severe weather in Brazil, the world’s largest arabica supplier, decimated coffee plantations, contributing to a global shortage just as demand for the high-end variety of beans expanded. That coincided with supply chain bottlenecks including container shortages and longer shipping times,” Bloomberg explained. – READ MORE
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