Arabica coffee futures see largest surge since July 2000 as investors worry about Brazil's supply
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Due to severe weather in Brazil, the world’s largest coffee producer, combined with ongoing supply shortages, prices have surged sharply. Meteorologists indicate that this year’s El Niño phenomenon may be particularly intense, which has driven not only the recent spike in coffee market prices but also increased the futures prices of other staple foods such as sugar and rice. Meanwhile, sustained rainfall in the main producing areas of West Africa has pushed New York cocoa futures to their highest level since January. Expand
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