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Why are coffee prices trading near half-century highs?

RNZ 04 Dec 2024
That has left stocks depleted and driven benchmark ICE exchange prices to a peak of US$3.36 per lb (NZ$5.84 per 454g) ... If adjusted for inflation, US$3.36 per lb in 1977 would be equivalent to US$17.68 (NZ$30.71) today.
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