date:Apr 24, 2014
demand by 11 million bags, Winterthur, Switzerland-based Volcafe estimates. That would mean a world deficit about the size of production in Colombia, the second-largest supplier of the premium arabica beans, which are favored by Starbucks Corp. A bag weighs 60 kilograms, or 132 pounds.
Arabica coffee for July delivery soared 7.1% to settle at $2.134 a pound yesterday on ICE Futures U.S. in New York. Earlier, the price reached $2.157, the highest for a most-active contract since Feb. 14, 2012. F