OREANDA-NEWS  Due to the sharp rise in prices for coffee beans, the global coffee trade has practically stopped — suppliers have sharply reduced purchases to a minimum. This was reported by the Reuters news agency, citing sources.

At the annual convention of the National Coffee Association of the USA, which was held in Texas, participants were shocked by the 70 percent rise in prices of Arabica futures on the ICE exchange. Renan Chueyri, CEO of the Ecuadorian company El cafe, said that for the first time he was unable to realize the entire planned volume of instant coffee by March. According to him, demand has fallen because high prices limit the possibilities of buyers.