However, traders may begin to temper further bets on coffee this year as Brazil’s coffee industry associaton Abic announced that the country has enough coffee inventories in storage to accommodate demand for this year, reports Gustavo Bonato for Reuters.

“The harvest is going to be large enough to supply the domestic market and exports,” Nathan Herszkowicz, executive director of Abic, said in the article.

iPath Dow Jones-UBS Coffee Total Return Sub-Index ETN

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Max Chen contributed to this article.