Reported about 4 hours ago
Coffee futures in New York have surged to their highest price since 1997, driven by fears of crop shortages in key producing countries, particularly Brazil. This year's price increases, including a notable rise in the high-end arabica variety, are a result of supply disruptions and adverse weather conditions affecting coffee production. The U.S. Department of Agriculture anticipates a significant drop in Brazil's coffee inventories, further tightening supplies and potentially escalating costs for consumers.
Source: YAHOO