Coffee prices are set to surge to their highest levels in years as traders and roasters wake up to the full extent of hurricane damage to stocks held in New Orleans, industry sources said.
Prices for arabica coffee, currently around $1 a pound, could surge above $1.45 a pound in the coming months with a long-predicted shortfall in beans made worse by the huge losses predicted in New Orleans warehouses and roasting plants, analyst Judy Ganes said Tuesday.
I thought Hurricane Katrina was horrible before, but now we see that the devastation in New Orleans was only the least of our worries.
My God, how will we in the Pacific Northwest survive this nightmare!
Damn Karl Rove and his evil weather machines! Damn him!