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Arabica coffee has risen in price to its highest since January 2012 amid supply disruptions, writes Trading Economics. The price of futures during trading on the New York stock exchange ICE Futures remains above $ 2.2 per pound.
The cost of coffee beans began to rise in May, when a shortage of goods was expected due to dry weather in Brazil, which is the main producer and exporter of coffee in the world.
Prices continue to rise amid increased shipping costs, high fertilizer costs and continued labor shortages.
The USDA in its latest report predicted further growth in global coffee production and consumption and said that stocks in warehouses monitored by ICE continue to decline.
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