U.S. President Donald Trump removed his 40% tariffs on Brazilian food products, including beef, coffee, cocoa and fruits that were imposed in July to punish Brazil over the prosecution of its former president, Trump ally Jair Bolsonaro.
A fresh wave of floods and landslides triggered by heavy rainfall in central Vietnam since the weekend has claimed at least eight lives, according to a government report on Wednesday. Traders have also cautioned that the extreme weather could disrupt the ongoing coffee harvest.
Ethiopia is altering its coffee export strategy after a 10% U.S. tariff disrupted a key revenue source for the country’s economy.
Popular coffee brands are negotiating price hikes with retailers due to a sharp rise in arabica costs, with some supermarket shelves running out of stock. Prices may increase by up to 25% as companies grapple with supply chain pressures.
Global coffee traders and roasters say they have slashed their purchases to minimal levels, as the industry reels from a steep surge in prices that suppliers have yet to convince retail stores to accept.
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