(ZEROHEDGE) – Arabica coffee futures are about to register their largest annual gain in a quarter-century due to a global deficit.
Arabica coffee futures jumped 78% to about $2.30 per pound in New York this year, putting it on track for the best year since 1994.
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"Severe weather in Brazil, the world's largest arabica supplier, decimated coffee plantations, contributing to a global shortage just as demand for the high-end variety of beans expanded. That coincided with supply chain bottlenecks including container shortages and longer shipping times," Bloomberg explained.