Weather conditions have led to a shortage of the world-popular drink.
As supply problems worsen, coffee prices have soared to 13-year highs.
This alarming news was shared by Bloomberg, citing stock exchange data.
As of 14:37 Moscow time, December futures on the ICE Futures exchange jumped in price by 3.3%. Arabica was trading at $2.68 per pound, or $5.9 per kilogram.
Robusta, in turn, rose even more and added 3.55% in price. The grains were sold at $5,451 per ton (14:56 Moscow time).
It is noted that throughout 2024, coffee has steadily increased in price due to a shortage of the cheaper Robusta variety.
On average, coffee has already risen in price by 40%. However, it is possible that the cost of the product will increase even more.
Droughts in Brazil, the world's leading coffee producer, have severely damaged plantations, causing market participants to fear that production of the popular drink could decline significantly.
