Coffee Gets Even Pricier as Arabica Jumps to Highest Since 1977
- Arabica coffee extends rally in New York on supply concerns
- Higher prices threaten to further raise costs for consumers
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Coffee futures extended their rampant rally to the highest in more than four decades in New York on global supply worries, threatening to further raise costs for consumers.
Arabica beans — the variety favored for specialty brews — climbed as much as 3.9%, hitting the highest since 1977. They’ve jumped almost 70% this year.