The pound remains at a two-year low against the euro and at a 31-year low against the dollar, which is pushing up the UK price of most commodities.
Arabica coffee prices have irisen almost 8% month on month in its native currency, and 17.1% month on month in pounds, due to concerns over the Brazilian crop. Heavy rainfall has affected the harvest, with some concerned the risk of isolated frosts in the southern part of the coffee belt will also cause disruption.
Sunflower oil and crude oil both fell 6.3% month on month in their native currencies, despite rising in pounds. Sunflower oil prices fell amid revised forecasts for 2016/17, while crude oil prices fell due to the uncertainty of the global economy, which includes concerns over the UK’s vote to leave the EU.
No comments yet