U.S. Caffeine Binge Drives Global Coffee Demand Higher: Chart
(Bloomberg) -- American consumers can't get enough coffee, and that's sending world demand for the beans to an all-time high. Global consumption will rise 1.2 percent in the season that starts in October to a record 150.8 million bags, each weighing 60 kilograms, the U.S. Department of Agriculture estimates. Rising demand has sparked a 16 percent rally this year for arabica-coffee futures in New York.
To contact the reporter on this story: Marvin G. Perez in New York at mperez71@bloomberg.net. To contact the editors responsible for this story: Simon Casey at scasey4@bloomberg.net, Millie Munshi
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