Coffee futures surge following large quake

Coffee futures skyrocketed 13 percent to a four-year high following reports of an earthquake on the west coast of Colombia.

BY CLAUDIA CARPENTER

Bloomberg News

Coffee prices in New York surged 13 percent to a four-year high after a report of an earthquake in Colombia, the world's third-largest grower.

A 6.7-magnitude earthquake struck the west coast of Colombia, destroying about 19 homes in the port city of Buenaventura, 220 miles west of Bogota, the Associated Press said.

Coffee prices have soared 28 percent this month amid reduced supply from Brazil, which is the world's biggest coffee grower.

More...