Global coffee prices have surpassed a 47-year peak.

The price of coffee worldwide has reached a 47-year high.

Euronews reports this news.

Futures for Arabica have hit $3.35 per pound, which is 70% higher than at the beginning of 2024. Such a level was last recorded in 1977. Yesterday, March futures for Arabica traded at $3.14 per pound.

It is noted that traders are concerned about the onset of drought in countries that are leading coffee producers due to extreme weather conditions. Specifically, Vietnam has already experienced prolonged droughts and heavy rains that have delayed product supply.

Background. Earlier, Mind reported that global coffee prices surged sharply. Certified Arabica stocks have decreased by more than 34,000 bags this week, and Robusta stocks are also declining.