Expected increase in coffee prices worldwide; unusual crops following El Niño weather anomalies

An employee steams milk for caffe latte at a coffee shop in New Delhi, India. Reuters Yonhap News As the El Niño phenomenon reappears this summer and abnormal weather becomes more frequent, it is predicted that the supply shortage of’soft (soft) raw materials’ such as coffee, chocolate, and sugar will deepen. On the 10th, reported that major food producers suffered from heatwaves, droughts and floods, and crops were not as good as in previous years. Already, Robusta bean, cocoa, sugar and orange juice futures are all up more than double digit percentages over last year. As of the 9th, the orange juice futures price was $257.95 per pound, up 39.39% from the same period last year. Sugar rose 34.5% from last year, and cocoa rose 33.33% from last year. Conna Haq, research director at ED&F Man, an international agricultural trading company, predicted, "The last food prices that will remain high will be sugar, coffee and sweets." Prices for Robusta, one of the cheaper ...