Coffee futures flirt with 13-year high on crop troubles caused by poor weather
Tuesday, August 24, 2010
Arabica coffee futures came off a nearly 13-year high, but traders say tight supplies are likely to keep prices of the better-quality bean elevated.
Coffee prices have increased 34 percent this year as recent crops from Colombia and countries in Central America were dogged by poor weather. As prices soar in the futures markets, US coffee producers have been bracing for higher coffee purchase costs. Some have already increased their prices.
Original source: MarketWatch