Chart of the day: Coffee prices at 2-year low; What’s brewing?

Riken Mehta
Moneycontrol Bureau

US Coffee futures hit a 2 year low this week. There are expectations of record harvest in Brazil this year, which is keeping prices under check. That apart, the continued uncertainties from the Eurozone debt crisis ahead of elections in Greece over the weekend also weighed on the markets.

US Coffee C July futures closed on Thursday, at USD 149.05 per pound, the lowest settlement for the second position since mid-June 2010.

The Indian Coffee manufacturers are all set to make handsome profits from the recent slump in coffee prices. The margins of companies like Nestle , Tata Coffee , Tata Global Beverage would improve further on fall in coffee prices.

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