Coffee prices soar to 7-year high on Brazil frost fears || Hybiz tv

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The price of coffee has surged to a seven-year high after freezing weather conditions in Brazil fueled fears of a global shortage. The country has been experiencing severe frosts in its coffee belt over the past week which stoked fears of lower coffee production and the subsequent increase in coffee prices.Coffee bean prices were up more than 30 per cent this week, and 60 per cent since the beginning of 2021.The New York futures price for Brazil’s higher quality coffee bean – arabica – jumped above $2 per pound on the back of a sharp fall in temperatures in Brazil’s largest coffee-producing regions – Parana, Sao Paulo and Minas Gerais. The last time, coffee prices were this high was in October 2018.
#Coffee #CoffeeBean #NewYork #Brazil #Hybiz

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