Coffee prices soar to record high as supply shrinks
Coffee prices surged to a record high as supply dwindles and production is expected to decline. The increase is due to a decrease in global production caused by droughts and climate change, as well as shipping disruptions and freight hikes. Traders are cutting back on purchases due to the high prices, and importers are turning to other countries for coffee. However, prices may cool down when Brazil harvests its coffee crop in April.