Wednesday, May 06, 2009

Some 80% of U.S. coffee drinkers claimed they drank coffee at home the day before

Thrifty coffee drinkers are increasingly brewing their own cups of joe, helping keep a floor under coffee prices.

Prices of coffee are up 7.3% at ICE Futures U.S. for the year so far, while the broader Dow Jones-AIG Commodity Index lost 1.3% over the same period. On Monday, coffee contracts for May delivery added 0.3% to $1.202 a pound, the highest since Feb. 9.

Coffee remains resilient despite a weaker economy and rising jobless claims mainly because consumers are brewing coffee at home instead of sipping it at upscale restaurants or coffee shops. In a survey by the National Coffee Association

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