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Article: Coffee may rise in 2005 on demand for lattes
- Article from:
- China Daily
- Article date:
- January 3, 2005
- Author:
CopyrightCopyright 2005 China Daily. Provided by ProQuest LLC. (Hide copyright information)
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Coffee prices may rise to a six-year high in 2005 after outpacing
major commodities this year, a Bloomberg survey found. Smaller crops
in Brazil and the growing appetite for lattes may spur the increase.
The price of arabica coffee futures listed on the New York Board
of Trade, the world's biggest coffee exchange, will average US$1 a
pound next year, based on the median estimate of 11 analysts and
roasters. That is 30 per cent higher than 2004. The futures are
benchmarks for coffee sold by Procter & Gamble Co's Folgers and Kraft
Foods Inc's Maxwell House brands.
Coffee futures jumped 60 per cent this year, more than commodities
including crude oil, sugar, copper and hogs. Suppliers were ...