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International Business Times
International Business Times
Business
AFP News

Coffee Price Heats Up On Tight Brazil Crop Fears

Brazil Drought
Brazil, the world's largest coffee producer, faces a record-breaking drought this year (Credit: AFP)

The price of Arabica coffee hit the highest level since 1977 on Wednesday, approaching a record high as drought in top producer Brazil this year hits supplies.

A pound (453.6 grams) of Arabica beans listed in New York struck 320.10 US cents, extending the commodity's rally over 2024.

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