Credit Suisse Raises Coffee Price Forecasts After Bottom
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Credit Suisse Group AG’s private banking unit raised its price forecasts for arabica coffee traded in New York, saying prices have found a bottom.
Arabica coffee futures will be at $1.80 a pound on ICE Futures U.S. in three and 12 months, the bank said in a report e-mailed today. That compares with a previous forecast of $1.50 a pound. The beans climbed 1.3 percent so far this month on speculation rains in Brazil would reduce crop quality.