Surge in prices of top quality coffee

A shortage of high quality arabica coffees has boosted spot prices in Central America, Colombia and Brazil, catching speculators who bet on falling futures prices by surprise.

Traders and analysts say the shortage is a major factor behind the surge in arabica prices, which have catapulted some 25 percent since mid-October amid a scramble for exchange certified ‘washed’ or quality arabica stocks, Reuters reports.