Hedge funds to blame for coffee price surge, says Lavazza boss

London | Hedge funds and other financial speculators were to blame for “80 per cent” of the surge in coffee prices that created “unbelievable” volatility and uncertainty in the market, the head of the Lavazza coffee company said.

Giuseppe Lavazza, chairman of Lavazza Group, which owns the eponymous brand, hit out at the “big investment funds” that had driven prices to levels that were “totally unsustainable for the industry, totally unsustainable even for the consumer”.

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Financial Times