A Target logo is seen during the going-out-of-business sale at Target Canada in Toronto, February 5, 2015. REUTERS/Mark Blinch
Coffee futures are currently trading near 13-year lows, weighed down by a record-large Brazilian crop. Prices are below the cost of production in most countries, forcing some farmers out of business and prompting concern from the industry on its long-term ability to source good coffee. The United States imported about 3.5 billion pounds of coffee in the 2018/2019 season, according to U.S. Department of Agriculture data.
2022? Do they really have that much backstock?
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