The price of Arabica coffee reached its highest level since 1977 in Wednesday trading due to supply concerns caused by drought in Brazil.
Image: PixabayA pound of Arabica beans listed in New York hit 320.10 US cents, extending the commodity’s rally over the past year and pushing past a nearly thirty-year high the day prior.Brazil, the world’s largest coffee producer, faced a record-breaking drought this year which has raised significant concerns about the production potential for the crop in 2025/2026.
Price rises have also been buoyed by geopolitical factors such as disruptions to shipping in the Red Sea, potential US tariffs and the future European Union regulation on deforestation, according to analysts. Vietnam has also faced supply concerns this year for it’s cheaper Robusta bean that’s used for instant coffee, as the country faced dryness during the growing period.
Eskom has hailed its prepaid meter upgrade project a success and requested ‘zero buyers’ upgrade their meters before the deadline.
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