Coffee prices in New York approach all-time high amid tariffs, Brazil weather

Group 1 - Coffee futures prices are nearing an all-time high due to U.S. tariffs and dry weather in Brazil, impacting production [1][6] - Arabica coffee futures reached a session high of $4.24 per pound, a seven-month peak, before closing down 2% at $4.0935 per pound [2][3] - The price of arabica coffee has surged approximately 50% since the imposition of a 50% tariff on Brazilian imports at the end of July [3][4] Group 2 - Roasted coffee prices in U.S. grocery stores increased by 20.9% in August compared to the previous year, contributing to high food prices [3] - The U.S. coffee industry has been slow to hedge against price fluctuations due to the tariff situation, leading to increased buying from speculative funds [4][5] - Concerns about Brazil's dry weather are affecting the supply chain, with rains needed to support the flowering phase of coffee trees [6]