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Coffee prices rebound on storm damage

Thursday, October 20, 2011


Torrential rains are pounding down on coffee production and trade routes in Central America, supplier of 10 percent of the world's coffee beans.

This rainy season is shaping up to be a destructive one in countries like Honduras and Guatemala, which grow mild-flavored arabica beans coveted by coffee connoisseurs.

That is driving the price of coffee higher. Futures are up 5.7 percent since hitting a nine-month low earlier this month, including Wednesday's jump of 4.65 cents, or 2 percent, to $2.3615 a pound on IntercontinentalExchange.



Original source: Dow Jones