Bloomberg explained the reason – news 1+1 – Money
The situation has been complicated by a prolonged drought in Brazil, which is the largest producer of Arabica coffee in the world.
Futures on the grade coffee Arabica on the New York Stock Exchange rose 4.9% to $3,446 a pound, the highest since 1972. In general, since the beginning of the year, Arabica prices in the world have increased by 80%.
Bloomberg writes about it.
It is noted that the situation has been complicated by a long drought in Brazil, which is the largest producer of Arabica in the world. Weather conditions in Vietnam, the country that is the largest producer of the cheaper robusta variety, also had an impact. The country's key coffee belt was initially affected by drought while the coffee trees were growing, with heavy rains beginning to set in as the harvest began.
Forecasts for Arabica production in Brazil are deteriorating. Next season, Brazil will produce only 34.4 million bags of Arabica, which…
