Brazil Drought Rewarding Coffee Hoarders as Prices Soar
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Brazil’s worst drought in decades is coming with a silver lining for coffee growers responsible for one in every three cups of fresh java drunk in the world.
A price surge as the dry spell hurts crops is allowing farmers to sell stockpiled coffee at a profit for the first time in a year to pay debt and fertilizer bills. Sales at the highest price in two years will more than offset output losses and leave farms less pressed for cash when harvesting starts next month, according to growers and analysts.