Coffee Rises to 14-Year High; Sugar Advances; Cocoa Declines
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Arabica coffee rose to the highest price in almost 14 years as adverse weather threatened crops in Colombia, the world’s biggest producer after Brazil. Sugar gained, while cocoa declined.
Colombia’s Agriculture Ministry on May 1 said a lack of sunshine will hurt coffee crops over the next few months. Plantations also have been damaged by rain and landslides and weather experts predict the worse is “yet to come,” Hamburg-based broker Eugen Atte GmbH said April 28 in a report. Prices have more than doubled in the past year.