Coffee jumps on weather report
RUMOURS of frost in Brazils coffee-growing regions sparked a buying spree on the commodity by investment funds.
Robusta coffee futures on the London International Financial Futures and Options Exchange closed $127 higher at $1555 per tonne.
The last severe frost in Brazil in 1994 had a dramatic effect on the coffee market.
The London market jumped by almost 80% over a fortnight, reaching a peak price of $4085 a tonne.
- Financial Times 20/05/99 page 46