Reuters reported a significant decline in global coffee trade

The rapid rise in prices for coffee beans has led to a significant drop in global trade in this commodity. This was reported by the Reuters news agency on March 7.

It is noted that the price of coffee bean futures on the ICE exchange has increased by 70% since November. The agency cited a drop in production in key regions, particularly Brazil, as the reason for this growth.

"Coffee traders and roasters say they have cut their purchases to a minimum," the article says.

One of the coffee brokers told Reuters that at current prices, many buyers began to abandon the creation of stocks of coffee beans. According to him, now transactions have begun to be made only if immediately necessary.

The manager of one of the largest warehouse operators in the United States, in turn, told the agency that the port coffee warehouses in the country are only half full of the usual level.

Reuters added that high prices for coffee beans have become a big problem for American retailers: some of them even faced a shortage of goods while negotiating with suppliers. The CEO of one of the largest local roasting companies described the situation as "nightmarish."

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Earlier, on January 29, it was reported that prices for Arabica coffee on the ICE exchange exceeded the historical maximum. The cost of the March futures for Arabica coffee beans then reached $7.85 thousand per ton.