Coffee Prices Drop To Lowest Level In More Than A Year

Arabica coffee prices for July 2015 fell 5.6 percent to $1.2845, their lowest level in more than a year, The Wall Street Journal reports. This decrease comes after estimates of excess production. The source reports one coffee merchant who had previously estimated a coffee shortage is now predicting a surplus. Volcafe estimates global production at 154.5 million bags and a supply surplus of 1.3 million bags.