By Roberto Samora
SAO PAULO (Reuters) -The global arabica coffee market has surged in August with prices gaining more than 30% on the ICE exchange, driven mainly by steep tariff hikes from the United States, the head of Brazil’s coffee exporters council, Cecafe, said on Friday.
The 50% tariff imposed on Brazilian coffee by the U.S. government since Aug. 6 has made exports to the North American country inviable, disrupting markets and making it difficult to gauge how far prices could climb, Cecafe president Marcio Ferreira said in an interview.
(Reporting by Roberto SamoraWriting by Oliver Griffin, Editing by Franklin Paul)
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