Coffee roasters raise prices to meet costs

SEATTLE, Mar 22 (Commodity Online): With the coffee prices soaring around the world, coffee bean processors are also hiking prices to address eroding margins. Three US roasters have hiked prices: Kraft food (22pc), Massimo Zanetti Beverages USA (12pc), Starbucks packaged coffee (12pc). Arabica futures have climbed to 34 years high last week and experts are of the opinion that the prices could reach to 50 year highs. Arabica is mainly grown in Latin American countries, especially Brazil. A Rabobank report says that the current price rally is being observed for the first time since 1970s.