date:Jun 23, 2014
he trees.
The drought surprised the entire coffee industry and caused speculators to pour into the futures market, lifting the benchmark price to $2.19 per lb by late April, the highest in more than two years. The futures price has since fallen more than 20 percent, to a four-month low at $1.6655 per lb on Thursday, as Brazil's harvest got under way.
Starbucks repeatedly has stated that it bought plenty of coffee when prices were low in 2013, and had secured coffee for the current fiscal year