Coffee Prices Surge to Highest Since 1997 on Supply Fears
- Coffee has rallied on worries about crops in key growers
- Pricier beans threaten to boost costs at cafes and retailers
A cafe receipt beside a coffee in the old town in Assisi, Italy.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Coffee futures in New York climbed to the highest since 1997 on worries about crops in top growers, threatening to further raise costs for roasters and consumers.
Arabica, the high-end variety favored for specialty brews, rose as much as 3% on Monday. Coffee prices have soared this year due to major supply disruptions in key producers from Brazil to Vietnam, with the more budget-friendly robusta type that’s used in instant drinks recently hitting the highest since the 1970s.