Coffee prices rose to their highest level in seven years

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The prices of Arabica coffee futures rose to a new record to continue their strong rise in light of the deterioration of the crop in Brazil due to the cold wave.
And the Bloomberg news agency quoted a report by Judy Janis Consulting, saying that the price of this favorite coffee for the famous American coffee chain Starbucks and other famous coffee chains increased by more than 30% within a week and is expected to increase to 3 dollars per pound, noting that the last time it exceeded the price of This $3 level coffee was in 2011.
The rise in raw coffee prices means a further rise in coffee prices for consumers who are already suffering with the high rate of food price inflation in light of high transportation costs and disruption of supply chains with the reopening of economic activities in the wake of the emerging Corona virus pandemic.
This significant rise in coffee prices comes due to the weak condition of coffee cultivation in Brazil, which was initially affected by drought and then by the current frost wave that has been going on for about a month, while important areas for coffee cultivation in Brazil are expected to be exposed to a new frost wave during the next three days, according to the meteorologist. Air at Maxar Donald Kinney.





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