High-End Arabica Coffee at 9-Year High With Supply Risks Worsening
- Brazil crop woes, lack of vessels affect shipments worldwide
- Ethiopia civil war raising concern about Africa’s top supplier
This article is for subscribers only.
Prices for high-end arabica coffee beans touched nine-year highs Monday with turmoil in Africa adding to crop woes in South America and skyrocketing costs for farmers.
Ethiopia, the world’s third biggest grower of arabica beans, is in the throes of civil war, with government forces battling rebels from the northern Tigray region. Curfews were recently imposed in the Oromia region, and U.S. Secretary of State Antony Blinken expressed concerns Friday that the African nation could implode.