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Your Coffee Could Be About to Get More Expensive

From: bloomberg.com

Coffee drinkers be warned. The world’s second-largest supplier says futures could potentially rally as the global glut that’s depressed prices of robusta and arabica beans begins to contract.

The surplus will fall to about 5 million bags this year from 9 million bags a year earlier as bad weather hurts producers in major growing regions such as South and Central America, said Sunny Verghese, chief executive officer of agriculture trader Olam International Ltd.

Lower production will support prices, Verghese said, after the Singapore-based trader reported a steep decline in fourth-quarter earnings, attributed in part to a weaker performance in its coffee business in 2018, which it said was likely to continue in the first half of this year.

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