Coffee could rally for years after hitting 10-year high, analysts say

Yating Co | iStock | Getty Images Coffee prices have reached a 10-year high, and analysts expect the market to remain tight until 2023. Coffee contracts for December delivery ended Monday’s trading session at $2.34 a pound. On Thursday, coffee futures on the New York Intercontinental Exchange reached $2.46, marking the highest price since 2011, … Read more

Oil headed for $100 despite U.S. efforts to release reserves: Analyst

Oil prices may rise even though the United States and other major consumers are releasing millions of barrels of oil from their reserves in an effort to keep energy prices low, an analyst told CNBC. “It simply won’t work because the Strategic Petroleum Reserve – any country’s Strategic Petroleum Reserve isn’t there to try to … Read more

Food prices in China up every week of October, commerce ministry says

Shoppers browse vegetables at a fresh food market in Shanghai, China, on Wednesday, November 3, 2021. Kelay Shane | Bloomberg | Getty Images BEIJING – The prices of food and other goods in China are rising rapidly, increasing pressure on policymakers tasked with maintaining stable growth. Food prices in China rose every week in October, … Read more

Volatile cocoa prices are pushing African farmers further into poverty

Women members of a cocoa agricultural cooperative dry cocoa beans on April 17, 2019 on a farm near Adzob, south of Ivory Coast. Yusuf Sanogo | AFP | Getty Images Volatility in cocoa markets means farmers in Africa will lose nearly 20% of their income, prompting accusations that global chocolate makers are “turning a blind … Read more

Beijing not likely to lift coal ban on Australia

A dredge recycling machine stands next to a pile of coal at the Port of Newcastle in Newcastle, New South Wales, Australia, on Monday, October 12, 2020. David Gray | Bloomberg | Getty Images China is facing its worst electricity crisis in years due to a coal shortage. While Australia has the coal Beijing needs, … Read more

Mongolia has concerns about Rio Tinto’s management of Oyu Tolgoi

Mongolia is concerned about Rio Tinto’s management of the Oyo Tolgoi copper and gold mine in the Gobi desert in the southern part of the country, a government official told CNBC. “We have concerns about transparency and we also have concerns about whether or not this mine is operating efficiently.” Solongo Bayarsaikhan, deputy head of … Read more