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With the sharp drop in temperature in Brazil’s three largest coffee planting areas-Paraná, São Paulo and Minas Gerais, the price of Arabica coffee beans per pound on the New York Futures Market rose to more than US$2, a record The highest since October 2014
.
The price increase this week alone exceeded 30%, and the cumulative price increase this year has reached 60%
.
Brazil is the world's largest coffee producer and exporter
.
Traders said that the frost damage in Brazil's coffee-producing areas far exceeded expectations
.
Since the beginning of this year, the coffee trees in the production area have experienced a drought of once in a century
.
Drought and frost damage will have a great negative impact on coffee production next year
.
If the tree damage is severe, farmers will be forced to carry out extensive pruning, resulting in a sharp decline in production next year
.
.
Traders said that the frost damage in Brazil's coffee-producing areas far exceeded expectations
.
Since the beginning of this year, the coffee trees in the production area have experienced a drought of once in a century
.
Drought and frost damage will have a great negative impact on coffee production next year
.
If the tree damage is severe, farmers will be forced to carry out extensive pruning, resulting in a sharp decline in production next year
.