Rupert Neate – The Guardian, 4/10/2014
Coffee bean prices have hit their highest level in more than two years amid fears that droughts in Brazil could lead to a global shortage of coffee. The price of arabica beans – the most popular variety – has risen by 20% this week and hit $2.07 (£1.23) per lb on Thursday, the highest since February 2012. So far this year, the price of arabica beans, originally indigenous to Ethiopia and favoured by Starbucks, Costa Coffee and Caffè Nero, has risen by 70%.
The price was driven higher on Thursday by further dry weather forecasts forBrazil – the world’s biggest producer, which has already experienced its worst droughts in decades. Analyst expect global demand to be around 146m bags this year, outstripping supply by more than 7m bags, and warned that prices could hit $3 per lb.
Brazil Portal 