Arabica coffee futures prices on ICE rose sharply on Monday, with the September contract climbing to a peak of $2.1520 per lb, the highest for the front month since October 2014.
LONDON/NEW YORK: Arabica coffee prices rose 10% more on Monday, after jumping nearly 20% last week, to their highest in nearly seven years as unusual cold weather threatens coffee crops in the world's largest producer Brazil.
Severe frosts last week damaged a large part of fields in the main Brazilian coffee belt and a new polar air mass is forecast to move over the same areas later this week, which will be the third strong cold front to hit crops this year.
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