Coffee beans prices are the highest in 47 years...Brazil's drought is to blame

Arabica coffee beans prices have soared to their highest level since 1977 due to drought in Brazil, the world's largest coffee producer, and trade policy concerns in the "second Trump" period.

On the 27th local time, Arabica coffee futures rose to $3.20 per pound in the New York market.

This is the highest level since 1977, when the price of Arabica beans was $3.38, and the price of Arabica beans has risen by 70% this year alone.

The Robusta variety, which is mainly used for instant coffee or blending, is traded at around $5,200 per ton in the London market in the UK, which has also risen more than 80% this year.

Coffee bean prices have entered a surge this year due to a severe drought in Brazil, raising concerns about next year's coffee harvest.

Also in Vietnam, a major producer of "Robusta," dry weather in the tiller and heavy harvest season have added to supply concerns.

Bank analyst Carlos Mera Labo explained that prices were affected by concerns about Brazil's supply next year, as well as EU forest regulations, tariffs foreshadowed by President-elect Donald Trump and increased volumes in advance against trade disputes.

Nestle, the world's largest coffee producer, said it will have to raise coffee prices and reduce packaging capacity in the future, citing the recent rise in coffee bean prices.