Coffee Futures & Financial Standings
For coffee lovers, coffee traders and professional fund managers like Corey Ribotsky, the latest news on coffee futures is certainly of interest. At the moment, coffee futures remain close to a 13 year high.
These rising prices have actually forced U.S. roasters J.M. Smucker Co and Kraft Foods Inc. to raise prices by 9% and 10%. Starbucks Corp has reported, for now, that they will absorb the four cents a share increase.
As the article explains, “Coffee stocks in ICE-approved warehouses have shrunk 35% since the beginning of the year, and global exports were down 14% in June to 7.8 million of 132-pound bags. A year earlier, exports totaled 18.5 million, according to the London-based International Coffee Organization.”
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