Why coffee prices will not be dropping anytime soon – The National
- Date: 09-Feb-2022
- Source: The National
- Sector:Oil & Gas
- Country:Middle East
Why coffee prices will not be dropping anytime soon – The National
The era of expensive coffee is not going to end anytime soon, judging from dwindling amounts held in reserves.
Stockpiles of high-end Arabica beans, a favourite of artisan coffee shops and chains such as Starbucks, totalled 1.078 million bags, or about 143 million pounds, according to data released Monday by the ICE Futures US exchange. That is the lowest level for inventories monitored by the New York exchange since February 2000.
Coffee reserves certified by the ICE have been falling since September due to soaring shipping costs and unfavourable weather that clipped production in Brazil, the world’s largest grower and exporter.
Select Sector 
Select Country 
