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    Home > Food News > Food Articles > Coffee prices in the international market are close to the highest in 7 years

    Coffee prices in the international market are close to the highest in 7 years

    • Last Update: 2021-07-30
    • Source: Internet
    • Author: User
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    The “Financial Times” reported on July 23 that the severe frost in the Brazilian coffee production zone this week triggered market concerns about the decline in production, leading to the highest coffee prices in the international market in seven years
    .
    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
    .
    Brazilian coffee prices
     
    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
    .
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