BUSINESS
02/14/2009 05:12 am ET Updated May 25, 2011

Coffee Prices May Jump 26%

Jan. 14 (Bloomberg) -- Coffee may jump as much as 26 percent this year as Brazil, the biggest producer and exporter, harvests less of the bean and boosts consumption, said Nathan Herszkowicz, head of the country's roasters association.

Prices may reach $1.45 per pound in New York near year-end after Brazilian producers finish selling a smaller crop, up from $1.1475 per pound yesterday, Herszkowicz, president of the Brazilian Coffee Industry Association, said in a Jan. 13 interview in Sao Paulo. The commodity will likely trade between $1.25 and $1.35 per pound in coming months, he said.

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