Coffee Producers Act to Prop Up Prices: The world’s leading coffee producers plan to keep some supplies from the market to force prices higher. Inspired by Colombia, the world’s biggest coffee exporter last year, the retention plan has won the support of Brazil and four Central American nations, setting coffee markets on edge. After a touching two-year low of 82 cents a pound last Wednesday, the price of arabica coffee futures on the New York Coffee Sugar and Cocoa Exchange rallied 5 cents a pound on talk of the plan.
Start your day right
Sign up for Essential California for the L.A. Times biggest news, features and recommendations in your inbox six days a week.
You may occasionally receive promotional content from the Los Angeles Times.