Coffee Climbs to the Highest Price Since 1997 on Supply Concern
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Coffee rose to the highest price since 1997 in New York and reached a 28-month high in London on signs that supplies will fail to keep up with demand.
Stockpiles monitored by the New York Board of Trade fell to 1.64 million bags for Jan. 27, the exchange said the next day. Colombia’s National Federation of Coffee Growers said Jan. 21 the harvest in Antioquia, the largest producing region, may drop below last year’s levels after excess rains. Exports from Vietnam may fall this month, statistics showed on Jan. 27.