PRICES: Finally, a Coffee Brake

Working like a well-functioning percolator, the market forces that drove raw coffee prices to record highs in April are now forcing prices down, down, down. In the past few months, Colombian green coffee has fallen from $3.34 per Ib. to $1.92, 43% below its April peak. Similar drops have taken place for other varieties of coffee.

One reason for the decline is the expectation of abundant harvests, especially in Brazil, which produces one-third of the world's coffee. What sent prices up in the first place was a freak frost in 1975 that damaged more than half of Brazil's coffee trees....

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