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Coffee prices jump to their highest level since 2014

 On Tuesday, Arabica coffee prices set records, as they jumped to their highest level in nearly seven years.

Prices rose more than 10% after jumping about 20% last week, as unusually cold weather threatens coffee crops in Brazil, the world's largest producer, according to Reuters.


Last week, preliminary estimates by the Brazilian government's Food Supply Agency indicated that frosts affected an area of ​​150,000 to 200,000 hectares, or about 11 percent of the country's total arabica-growing area.


Arabica coffee futures on the London Commodity Exchange rose sharply on Monday, with the September contract jumping to a peak of $2.152 a pound, the highest level since October 2014. The Arab milk contract has gained about 35% since the end of June.


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