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VARIOUS COUNTRIES - DECEMBER 8, 2023: Coffee prices reached historic high levels in the global markets as other commodities saw sharp fluctuations after President-elect Donald Trump’s win in last month's US elections, and coffee stood out at a record of $3.2615 per pound on the Intercontinental Exchange. The pound price of coffee increased by over 70% since the beginning of this year. Concerns over the continuation of dry weather conditions in Brazil, which negatively impacted coffee yields, and frost possibilities in the country also gave rise to coffee prices. The Houthi attacks in the Red Sea also contributed to the price hikes as they slowed shipments from Asia to Europe. Meanwhile, extreme heat and droughts in Southeast Asia where coffee bean producers operate led to lower harvests, especially in Vietnam, which pushed prices upwards. Coffee yields are estimated to further decrease with the La Nina weather extreme, which brings colder than normal temperatures across western Europe. Typhoon Yagi, a deadly and highly destructive tropical cyclone in Asia, hit Southeast Asian countries and damaged coffee production areas, giving further rise to coffee prices. (Footage by AA/Anadolu Agency via Getty Images)