Coffee prices – the cost of coffee has set a historical record for half a century – UNIAN

Arabica coffee futures in New York rose 4.9% to $3,446 a pound, their highest since 1972. Since the beginning of the year, prices for Arabica coffee in the world have increased by 80%, writes Bloomberg.

It is noted that the situation has become more complicated due to a long drought in Brazil, which is the largest producer of Arabica in the world. Weather conditions in Vietnam, a country that is the largest producer of the cheaper Robusta variety, also had an impact. The country's key coffee belt was initially hit by drought during the growth of coffee trees, and heavy rains began at the start of the harvest.

Arabica production forecasts in Brazil are worsening. Next season, Brazil will produce only 34.4 million bags of Arabica, which…