Coffee Futures Fall to Three-Year Low on Inventory Surge
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Coffee futures fell to the lowest in more than three years on mounting speculation that global supplies will exceed demand amid bumper crops in Brazil, the world’s top exporter.
Inventories monitored by ICE Futures U.S., up 80 percent in the past 12 months, are close to the highest in three years. Next season, shipments by Brazil may rise 5.9 percent because farmers have unsold supplies from the previous record crop, Cecafe, an exporter group based in Sao Paulo, said this week.