Shotstradamus: Coffee Futures Engorged In A “Panic Stricken Demand Rationing Orgy”

 
By 21 December 2010
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Shawn Hackett, a self-described “Shotstradamus” with soothsaying predictive powers in the C futures market, dropped a doomsday scenario of coffee-price-soarin’ into our Google Alerts…

Arabica coffee prices may be set for a “straight up vertical spike” to a record $4 a pound by the end of the first quarter with daily gains of 50 cents a pound after climbing to a 13-year high last week, researcher Shawn Hackett said.

Coffee is no longer a “value commodity” and roasters are facing a “panic stricken demand rationing orgy,” Hackett, president of Hackett Financial Advisors Inc. in Boynton Beach, Florida, wrote in a report dated Dec. 18. Prices for robusta coffee traded in London may climb to $2,500 a metric ton on rising demand from Asia and lack of production growth from Vietnam, the world’s largest grower of the beans, Hackett said by e-mail yesterday.

Four dollars a pound? Hachi machi!

 
  • Brendan says:

    I suppose you have to do something to make business news interesting. Although given how many adjectives were squeezed into that phrase, I can’t imagine there will be much of a surprise left for any orgy participants.

    Also, I think that orgy line snuck through because the writer was her own editor:

    To contact the reporter on this story: Claudia Carpenter in London at ccarpenter2@bloomberg.net

    To contact the editor responsible for this story: Claudia Carpenter in London at ccarpenter2@bloomberg.net

    Reply
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