The commodity is complementary product of sugar. If the price of sugar increases, the demand of commodity stated in the last paragraph will increase. The price increases was triggered by the hot draught in Brazil, where some areas had the lowest rainfall since the 1940s. The increase reached 23% within a week and an increase of 36% after a seven-year of the lowest price in November when the price of coffee was 100.95 cents.
The price of good quality Arabic coffee-which accounts for three-fourths of total Brazilian coffee products, increased to 137.95 cents per pound (0.45 kg) in New York, US. Meanwhile, due to the severe draught that influenced the harvest, the price of Brazilian coffee its highest level for several month. Last years, for example, was the hottest years recorded in Australia, while in the US the hottest years recorded was in 2012. The hottest years were 20, where the temperature reach 0.55 degree Celsius above the long term average temperature. According to the World Meteorology Organization (WMO), the temperature in 2013 was similar to that in 2007 with land and sea surface 0.5 degree Celsius above the average temperature of that in 1961-1990.Īccording to WMO, 13 out of 14 hottest years recorded happened in the 21 century.
The earth climate system has experienced global warming which will affect the next generation. The sixth hottest year since climate recorded started in 18.
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