Reported 1 day ago
Coffee prices skyrocketed to a record high in New York as fears of a global supply shortage intensify due to crop failures in Brazil and Vietnam. Arabica futures have surged over 80% this year, with analysts predicting further declines in Brazilian production stemming from recent droughts. This trend threatens to increase costs for consumers and coffee producers alike, as major brands are already raising prices and cutting discounts to cope with the rising costs of beans.
Source: YAHOO