Coffee prices raise to 47-year high with Brazil’s supply concerns

Arabica coffee futures on the ICE exchange rose by 0.2% to $3.2360 per lb by 1453 GMT, having hit their highest since 1977 at $3.3545.

Coffee prices rose on Friday to their highest in nearly half a century, buoyed by tightening supplies as next year’s crop in top grower Brazil struggles to recover fully from this year’s drought.