Will we drink more expensive coffee after the prices of world stock markets have jumped?

Published 2024년 11월 27일

Tridge summary

Arabica coffee prices have reached a 13-year high on the stock market due to predictions of a weak coffee harvest in Brazil. The price of Arabica coffee futures on the New York exchange increased by 1.2% to $3.0575 a pound, and Robusta futures rose by 4.1% to $5,191 a tonne. The US Department of Agriculture has reduced its forecast for Brazil's coffee crop for the 2024/25 business year to 66.4 million standard 60-kilogram bags, down from 69.9 million, due to the driest season since 1981. The price increase is expected to continue for at least the next few months, with retail prices in Bulgaria already rising, and both wholesale and retail prices in the country having increased by at least 20% since the start of the year.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Arabica coffee prices rose sharply on the stock market yesterday, hitting a new 13-year high, mainly due to forecasts of a weak coffee harvest in Brazil. The price of Arabica coffee futures on the New York exchange ICE Futures rose in just one day by 1.2% to $3.0575 a pound. Meanwhile, Robusta futures jumped 4.1% on the day to $5,191 a tonne. The US Department of Agriculture now forecasts that Brazil's coffee crop for the 2024/25 business year will will amount to 66.4 mln. standard 60-kilogram bags, while until recently forecast expectations were for 69.9 million. bags. Brazil's current season is the driest since 1981, according to weather service Cemaden. this way. Global warming seriously affects the production of coffee, and specifically the production of Arabica coffee, as it is more delicate and requires optimal climatic conditions to produce high-quality raw material, the sales expert previously commented to Money.bg at cafe Vidin Andonov. In his words then, in a long-term ...

Source: Money