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ARABICA COFFEE COULD REACH US$ A POUND

ARABICA COFFEE COULD REACH US$ A POUND



Arabica coffee prices may be set for a “straight up vertical spike” to a record US$4 a pound by the end of the first quarter of 2011, with daily gains of 50 cents a pound after recently climbing to a 13-year high, researcher Shawn Hackett recently told Bloomberg.

Coffee is no longer a “value commodity” and roasters are facing a “panic stricken demand rationing orgy,” Hackett, president of Hackett Financial Advisors Inc in Boynton Beach, Florida, wrote in a report dated December 18th 2010.

Arabica coffee will probably end the year at $3 a pound, Hackett said.

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