The Country
  • The Country home
  • Latest news
  • Audio & podcasts
  • Opinion
  • Dairy farming
  • Sheep & beef farming
  • Rural business
  • Rural technology
  • Rural life
  • Listen on iHeart radio

Subscriptions

  • Herald Premium
  • Viva Premium
  • The Listener
  • BusinessDesk

Sections

  • Latest news
  • Coast & Country News
  • Opinion
  • Dairy farming
  • Sheep & beef farming
  • Horticulture
  • Animal health
  • Rural business
  • Rural technology
  • Rural life

Media

  • Podcasts
  • Video

Weather

  • Kaitaia
  • Whāngarei
  • Dargaville
  • Auckland
  • Thames
  • Tauranga
  • Hamilton
  • Whakatāne
  • Rotorua
  • Tokoroa
  • Te Kuiti
  • Taumurunui
  • Taupō
  • Gisborne
  • New Plymouth
  • Napier
  • Hastings
  • Dannevirke
  • Whanganui
  • Palmerston North
  • Levin
  • Paraparaumu
  • Masterton
  • Wellington
  • Motueka
  • Nelson
  • Blenheim
  • Westport
  • Reefton
  • Kaikōura
  • Greymouth
  • Hokitika
  • Christchurch
  • Ashburton
  • Timaru
  • Wānaka
  • Oamaru
  • Queenstown
  • Dunedin
  • Gore
  • Invercargill

NZME Network

  • Advertise with NZME
  • OneRoof
  • Driven Car Guide
  • BusinessDesk
  • Newstalk ZB
  • Sunlive
  • ZM
  • The Hits
  • Coast
  • Radio Hauraki
  • The Alternative Commentary Collective
  • Gold
  • Flava
  • iHeart Radio
  • Hokonui
  • Radio Wanaka
  • iHeartCountry New Zealand
  • Restaurant Hub
  • NZME Events

SubscribeSign In

Advertisement
Advertise with NZME.
Home / The Country

Price surges to highest level in 12 years

Bloomberg
30 Jul, 2010 04:00 PM2 mins to read

Subscribe to listen

Access to Herald Premium articles require a Premium subscription. Subscribe now to listen.
Already a subscriber?  

Listening to articles is free for open-access content—explore other articles or learn more about text-to-speech.
‌
Save
    Share this article
Photo / Martin Sykes

Photo / Martin Sykes

Coffee jumped yesterday, closing at the highest price in 12 years, as hedge funds boosted purchases and the dollar's slump enhanced the allure of commodities. Cocoa also gained.

The greenback fell to a three-month low against a basket of six major currencies. The Reuters/Jefferies CRB Index of 19 raw materials
surged to the highest level since May 5. In the week ended July 20, net-long positions held by hedge-fund managers and other large speculators in New York coffee futures rose for the sixth week to the highest level since March 2008.

"The market broke through US$1.70 ($2.35), and that triggered a lot of buying from speculators and funds," said Hernando de la Roche, a director at Hencorp Futures in Miami.

Arabica coffee for September delivery surged 5.65c, or 3.4 per cent, to close at US$1.73 a pound on ICE Futures US in New York, the highest settlement for a most-active contract since February 23, 1998. This year, the price has gained 27 per cent.

Earlier, coffee reached US$1.746, the highest intraday price since June 24. On that date, the commodity climbed to a 12-year high of US$1.765.

"The dollar is falling, giving commodities a boost in general," said Fain Shaffer, president of Infinity Trading Corp in Medford, Oregon. Arabica prices in Brazil will stay near a five-year high as demand outpaces supply, according to Cepea, a research group at the University of Sao Paulo.

On London's Liffe exchange, robusta-coffee futures for September delivery gained US$26, or 1.5 per cent, to close at US$1747 a metric tonne.

- BLOOMBERG

Discover more

Agribusiness

Coffee drinkers embrace fair factor

30 Jul 04:00 PM
Advertisement
Advertise with NZME.
Advertisement
Advertise with NZME.
Save
    Share this article

Latest from The Country

The Country

Community garden grows kai and community connection

19 Sep 05:00 PM
The Country

NZ breeder pioneers Australian White sheep

19 Sep 05:00 PM
The Country

Kids invited to swap old toys for a new John Deere model

19 Sep 04:59 PM

Sponsored

Kiwi campaign keeps on giving

07 Sep 12:00 PM
Advertisement
Advertise with NZME.

Latest from The Country

Community garden grows kai and community connection
The Country

Community garden grows kai and community connection

“Gardens grow vegetables, orchards grow fruit, but community gardens grow people.”

19 Sep 05:00 PM
NZ breeder pioneers Australian White sheep
The Country

NZ breeder pioneers Australian White sheep

19 Sep 05:00 PM
Kids invited to swap old toys for a new John Deere model
The Country

Kids invited to swap old toys for a new John Deere model

19 Sep 04:59 PM


Kiwi campaign keeps on giving
Sponsored

Kiwi campaign keeps on giving

07 Sep 12:00 PM
NZ Herald
  • About NZ Herald
  • Meet the journalists
  • Newsletters
  • Classifieds
  • Help & support
  • Contact us
  • House rules
  • Privacy Policy
  • Terms of use
  • Competition terms & conditions
  • Our use of AI
Subscriber Services
  • NZ Herald e-editions
  • Daily puzzles & quizzes
  • Manage your digital subscription
  • Manage your print subscription
  • Subscribe to the NZ Herald newspaper
  • Subscribe to Herald Premium
  • Gift a subscription
  • Subscriber FAQs
  • Subscription terms & conditions
  • Promotions and subscriber benefits
NZME Network
  • The New Zealand Herald
  • The Northland Age
  • The Northern Advocate
  • Waikato Herald
  • Bay of Plenty Times
  • Rotorua Daily Post
  • Hawke's Bay Today
  • Whanganui Chronicle
  • Viva
  • NZ Listener
  • Newstalk ZB
  • BusinessDesk
  • OneRoof
  • Driven Car Guide
  • iHeart Radio
  • Restaurant Hub
NZME
  • About NZME
  • NZME careers
  • Advertise with NZME
  • Digital self-service advertising
  • Book your classified ad
  • Photo sales
  • NZME Events
  • © Copyright 2025 NZME Publishing Limited
TOP