The international price of coffee has increased 30% in the past two weeks.
Nestor Osorio, president of the International Coffee Organization, explained the hike as a result of ‘speculation’ and ‘nervousness’.
“The price of Arabica Coffee went abruptly up by 10%, reaching a 12-year high in the futures market in New York. Investors who bet on lower prices suffered considerable losses for the second time in a month”, reported Prensalibre.com.