Coffee Prices Fall Due To Wet Weather In Brazil And Indonesia

Coffee prices fell 20% in the last month alone due to great weather conditions in Brazil and Indonesia, the largest and fourth largest Coffee producers respectively.

Another factor is a strong dollar, which means prices quoted in USD are expected to be lower, reports the Wall Street Journal.

In february Brazilian coffee futures hit a high of $2.58 a pound as drought and frost threatened crops. Due to the recent wet weather prices are now down to $1.70 a pound.

The wet weather due to the La Niña climatical phenomenon is projected to continue until 2023.

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