Coffee futures are well below $2/pound, at around $1.83, far from the price of over $3/pound reached last may. This year’s crop from Brazil is better than expected and is selling at a discount of $0.10/pound in New York according to Bloomberg News.
The Brazilian crop through September next year is expected to rise to a record of more than 52 million 132-pound bags.
Starbucks raised its prices when coffee prices were high, but very likely doesn’t plan to lower them now that prices have fallen. Shocking.
Paul Ausick
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