Here’s an update on the 13 1/2 year high for green coffee beans. This new milestone just happened on Friday. We at Bongo Billy’s are keeping a keen eye on the market to see when we can expect some relief. Stay tuned. An excerpt:
Arabica coffee has traded in a range since late December, with prices supported by a bullish macroeconomic picture of higher demand in emerging economies and a shortage of high-quality washed arabica beans from key producer Colombia.
Tight supplies of higher quality beans also pushed up physical coffee prices in top grower Brazil and in Tanzania, where top-grade coffee fetched an all-time high at this week’s auction, traders said on Friday.