Coffee Prices Jump to a 12-Year High

Filed under: Forecasts, Commodities

Yes, you can expect to pay more for your cup of coffee. Supplies of prized Arabica beans are in short supply, driving prices to a 12-year high. Prices for December delivery jumped 3% to $1.852 per pound. Retail prices can be more than double that price.

J.M. Smucker (SJM), distributor of Dunkin Donuts, Millstone and Folgers, already raise prices by 9%. Kona Haque, commodities analyst for Macquarie, was quoted in the Financial Times, saying: "The coffee futures market had attracted speculative buying. It's completely dominated by funds right now."

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Coffee Prices Jump to a 12-Year High originally appeared on BloggingStocks on Sat, 21 Aug 2010 11:40:00 EST. Please see our terms for use of feeds.

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