Coffee Prices Surge to 47-Year High

Coffee prices have surged to their highest in 47 years due to adverse weather conditions in Brazil and Vietnam, the leading producers of arabica and robusta beans. Brazil's severe drought followed by heavy rains has raised concerns about future supply shortages, while Vietnam has experienced three years of low output. The price of arabica beans reached $3.18 per pound, prompting companies like Nestle to increase prices. Additionally, concerns over potential tariffs are influencing market dynamics as roasters seek to import before tariffs are imposed.