Brazil,the world’s biggest coffee producer, is frost bitten. Coffee crop across the South American nation is facing damage pushing prices to the highest level in nearly a decade.
The price for globally popular Arabica coffee, one of the South American nation's top commodity exports, jumped to the highest level since 2014. Prices have brewed 30% in the last one week and over 60% this year.
The surge in prices is likely to affect coffee enthusiasts all over the world as roasters and supermarkets have already begun to raise rates.