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Coffee prices hit 12-year highs on top-quality Central American beans

Friday, June 25, 2010

Coffee prices soared to 12-year highs on the scarcity of high-quality beans in a market where overall supplies are grinding lower.

The latest move marks a resumption of the upward momentum that has attracted interest from investors looking to capitalize on poor harvests in Colombia and Central America.

A Central American broker said origin beans are available, but the volatile futures market is making commercial buyers skittish.

Original source: Wall Street Journal