This after the price of Arabica beans rises by 4.9 percent to the highest level since the beginning of the 70s and beyond the price ceiling reached in 1977.
Behind the price increase is concern about the harvests in Brazil, which is the world's largest coffee producer, linked to drought affecting many farmers. One of the country's largest producers, Volcafe, has also radically lowered its forecast, writes Bloomberg.
However, it is not only from the Brazilian side that there are challenges at present. Vietnam, which is a major exporter of the simpler Robusta bean, has also been affected by both drought and heavy rainfall earlier this year, both of which have affected the harvest.
