Coffee News: Risk to coffee stocks after hurricane supports price rises

"Prices for the omnipresent beverage and confectionery ingredient coffee leapt this week after flooding caused by Hurricane Katrina put inventories of beans in New Orleans at risk.

New Orleans, the second-largest coffee port in the US, was struck on Monday by a severe hurricane that has left the city in an apocalyptic state.

Reports estimate that New Orleans is currently storing some 1.6 million 60 kilogram bags of green coffee, representing over a quarter of all US green coffee stocks.

The uncertainty as to the fate of these beans has created bullish prices, with New York commodity markets seeing coffee prices rise the most in six months, a picture reflected on the London-based futures market Liffe."

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