The price of coffee on the ICE Futures exchange rose to a 13-year high. This is evidenced by the following data: website trading platform.
December Arabica coffee futures rose 3.3% to $2.68 per pound ($5.9 per kg) on the ICE Futures Exchange. Since the start of 2024, prices have increased by about 40% due to a shortage of cheaper Robusta beans.
Coffee futures rose sharply on fears of supply shortages. believes Bloomberg. Market participants expect a decline in coffee production in Brazil, the world’s largest supplier of this variety. Heat and drought have wreaked havoc on coffee plantations in the country.
From May to August 2024, several agricultural regions of Brazil, which produces about a third of the world’s coffee, faced their worst drought since 1981.
Early September It became knownAngola is ready to increase its coffee supply to the Russian market. Angola began promoting its coffee in Russia last year in St. Petersburg. A similar event is planned for Moscow this year.
Russians before It has been saidWhat will be the prices of tea and coffee?
What are you thinking?
Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.