Coffee prices Arabica updated a 10-year record, testify the data of the auction on the New York Stock Exchange Ice Futures.
From mid-November, futures are held above $ 2.2 per pound (0.45 kilograms). The previous time of this mark the cost of coffee rose in January 2012. During the auction on Tuesday, November 16, December futures rose to $ 2.24 per pound.
The rise in price is caused by interruptions in supply from major manufacturers, TRADING ECONOMICS writes. Brazil collided with frosts and drought, crops in Colombia were injured due to heavy rains, and Vietnam’s exports decreased due to the lack of sea containers. The US Department of Agriculture in his last report reported that world coffee reserves decreased by 77 percent compared to last year. Coffee prices will continue to grow due to high transportation costs, rise in price fertilizers and labor shortages.
In early November, the Food and Agricultural Organization of the UN (FAO) reported that world prices for food record increased, exceeding the 2011 figure. In October, the average value of the food price index, which allows monthly to track the fluctuations in world prices for the most occasional food products, increased by 3.9 percent compared with September – to 133.2 points.