SAO PAULO, Aug 23 — The global arabica coffee market has surged in August with prices gaining more than 30 per cent on the ICE exchange, driven mainly by steep tariff hikes from the United States, the head of Brazil’s coffee exporters council, Cecafe, said on Friday.
The 50 per cent tariff imposed on Brazilian coffee by the US government since Aug 6 has made exports to the North American country inviable, disrupting markets and making it difficult to gauge how far prices could climb, Cecafe president Marcio Ferreira said in an interview. — Reuters
