17:42 - 16.09.2024

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September 16, Fineko/abc.az. The price of coffee continues to rise amid constant supply problems, which is why the cost of premium Arabica beans has risen to the highest level in 13 years.

ABC.AZ reports that futures rose 3.3% to $2.6805 per pound in New York, the highest since 2011. Prices have increased by about 40% this year due to shortage of cheaper robusta beans, which has increased demand for Arabica, popular among specialty chains.

The main reason for the price increase is the unfavorable weather in Brazil, the largest coffee producer. After the heat and drought, the harvest prospects for the period 2024-25 deteriorated.