Coffee prices set an absolute record

Coffee futures have reached a 12-year high

In brief: Coffee prices continue to rise against the background of a substantial increase in demand. Investors are rushing to acquire coffee plantations.

The futures of Arabica coffee have reached the uptick of 12 years in New York today. Robusta coffee also hit highest level in two years in London due to the tropical storm closing on the coffee-producing countries.

It is worth noting that the tropical storm, which formed in the South China Sea, is heading towards Vietnam, the second-largest coffee producer, while Frank, another tropical storm, is approaching the southern coast of Mexico, the fifth-largest coffee produceing country. It looks like coffee may become the “brown gold” of the day.

Anna Krostenski
2010-08-23 14:32, Commodities.

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