Global coffee prices have soared as a result of a once-in-a-century drought and the reopening of cafes as pandemic related lockdowns are eased. The importance of the drought can already be seen in a 19.6% year over year drop in Brazilian coffee exports in May which dragged global exports down by 10.0%. The drop in exports from Brazil has varied significantly by buyer. Exports linked to JDE Peets and Lavazza fell by 10.0% and 18.9% respectively in May versus a year earlier. JM Smucker and Starbucks-linked exports climbed 13.9% and 158.3% higher though Starbucks’ shipments were still well ...