LONDON — Arabica coffee prices rose to the highest on record on Tuesday as dealers fretted over Brazil's crop outlook after one of the world's largest traders slashed its 2025/2026 forecast for the country's arabica output.
LONDON — Arabica coffee prices rose to the highest on record on Tuesday as dealers fretted over Brazil's crop outlook after one of the world's largest traders slashed its 2025/2026 forecast for the country's arabica output.Brazil, which grows nearly half the world's arabica — high-end beans typically used in roast and ground blends beloved by baristas — will produce just 34.4 million bags of the bean next season, according to trader Volcafe in a report seen by Reuters.
The boss of Nestlé, the world's biggest coffee firm, was ousted earlier this year after the board grew unhappy about weak sales and a loss of market share as coffee drinkers switched to cheaper brands.Arabica coffee futures on ICE, used as a global benchmark, hit $3.4835 per pound earlier on Tuesday, their highest-ever level. They closed 1.2-percent up at $3.3415 per lb.
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