commodities

Global production of durum wheat has fallen 12% to 33.3 million tonnes: a 13-year low. This is a result of reduced production in the EU, the US and particularly Canada, caused by unfavourable weather conditions. The shortage continues to push prices up.

Recent rains in Brazil have caused arabica coffee prices to fall slightly month on month. This is against a backdrop, however, of a year-on-year rise of more than 80%, prompted by concerns that this year’s droughts could affect supplies into 2015/16. Exports in 2013/14 were at 111.3 million bags, the second-highest number on record, but down on the previous year. As consumption continues to rise, this has created pressure on prices.