Arabica Coffee Prices Are the Highest in Almost a Decade
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Arabica coffee prices soared, approaching the highest in almost a decade on increasing signs of shortages in top producers Brazil and Colombia.
Prices for the high-end beans delivered in March climbed 4.6% to $2.3475 a pound in New York, the highest settlement for a most-active contract since January 2012. That’s nearly double from a year ago. The beans that are ubiquitous in cafe chains like Starbucks Corp. and Peet’s Coffee & Tea Inc. are adding to the inflationary pressure across many sectors of the economy.