Black Market

Grocery shoppers have seen whopping increases this year in the price of coffee, whether it's a store brand, Folgers or Maxwell House. Since spring coffee has been selling at $7 to $8 a can in many parts of the country, or about twice the price of a gallon of gas. The retail price of coffee in July was up 20.7 percent over the same month last year. Coffee-industry veterans blame financial speculators. Experts say global consumption of coffee is up, particulary in China and coffee-producing Brazil. There's also been a weather-related dip in production in Colombia. The price of a future contract for 37,500 pound of coffee rose by more than 40 percent last year and has gone up by more that 57 percent this year through August 19.

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                                                                                                               Date:  August 31
                                                                                                           Author: MCT , Washington