Brazil's drought may worsen supply shortages, causing Arabica coffee prices to approach historic highs.

According to the Securities Times app, due to concerns about possible La Nia phenomenon or drought in major coffee-producing country Brazil threatening crops, coffee futures prices once broke through $4 per pound. Prices of Arabica coffee beans rose by 0.8% on Tuesday to $4.21 per pound, not far from the historical high of $4.2995 per pound set in February this year.