Brazil's coffee industry to raise prices due to weather

Global coffee prices hit a record high last week and are up about 80 percent this year as bad weather in Brazil and Vietnam, the world's largest coffee producers, hurt harvest prospects, with international consumers likely to feel the effects by the end of March, Reuters reported. JDE Peet's, maker of brands such as Jacobs, L'Or, Tassimo and Douwe Egberts, will raise prices in Brazil by an average of 30 percent next year, according to two traders. Brazil is the world's second-largest coffee consumer after the United States. However, traders said coffee multinationals will also seek to raise prices in other markets, many of which will do so when long-term contracts with retailers expire later this month or early next year. 3Cora??es, another major Brazilian roaster, will raise prices by 11 percent in January after a 10 percent increase in December, while Melitta, also a major Brazilian company, raised prices by 25 percent this month after a recent 12 percent increase. JDE, ...