周三，咖啡价格攀升至近50年来的最高点，原因是对全球供应短缺的担忧加剧了围绕欧盟即将出台的森林砍伐法律影响的市场不确定性。
质量较高的阿拉比卡咖啡豆期货价格在纽约上涨4.7%，达到每磅3.23美元，创下1977年以来的最高水平，使今年的价格涨幅扩大到70%以上。
用于速溶咖啡的较便宜的罗布斯塔咖啡豆的伦敦期货价格上涨7.7%，达到每吨5507美元，几乎是年初价格的两倍。
请看《金融时报》的详细报道：
Coffee climbed to its highest in nearly 50 years on Wednesday as concerns over a global supply shortage added to market uncertainty over the impact of incoming EU laws on deforestation.
周三，咖啡价格攀升至近50年来的最高点，原因是对全球供应短缺的担忧加剧了围绕欧盟即将出台的森林砍伐法律影响的市场不确定性。
Futures tracking higher-quality arabica beans rose 4.7 per cent to $3.23 a pound in New York, their highest levels since 1977, to extend the rally in prices this year to more than 70 per cent.
质量较高的阿拉比卡咖啡豆期货价格在纽约上涨4.7%，达到每磅3.23美元，创下1977年以来的最高水平，使今年的价格涨幅扩大到70%以上。
London futures for cheaper robusta beans, used in instant coffee, rose 7.7 per cent to reach $5,507 a tonne, nearly double their price at the start of the year.
用于速溶咖啡的较便宜的罗布斯塔咖啡豆的伦敦期货价格上涨7.7%，达到每吨5507美元，几乎是年初价格的两倍。
第一，学习rally的用法。这个词作名词，表示an occasion when something, especially the value of shares, becomes stronger again after a period of weakness or defeat，〔尤指股价的〕止跌回升，例：a late rally in the Tokyo stock market 东京股市的尾盘反弹
第二，学习futures的用法。这个词表示goods, money, land etc that will be supplied or exchanged in the future at a time and price that has already been agreed，期货。
Traders said the move had been driven by coffee roasters, commercial buyers who process beans for consumption, aiming to secure supplies ahead of likely shortages and uncertainty over the status of a new EU law that bans using deforested land for crops.
交易员称，此轮上涨是由咖啡烘焙商推动的，这些商业买家加工咖啡豆供消费，旨在在可能出现短缺和欧盟新法律的不确定性之前确保供应，该法律将禁止使用毁林土地种植作物。
“I have never seen anything like this before,” said Tomas Araujo, trading associate at brokerage StoneX. “This is not going to be resolved this year and that’s why the roaster has started going into panic mode.”
经纪公司StoneX的交易助理Tomas Araujo表示：“我以前从未见过这样的情形。这种情况今年不会得到解决，这就是烘焙商开始进入恐慌模式的原因。”
Hot and dry weather in Brazil has stoked concerns that output from the world’s biggest arabica producer will fall next season, reducing tight global supplies. The country suffered its worst drought in 70 years in August and September, followed by heavy rains in October, leading to concern the flowering crop will wither.
巴西炎热干燥的天气激起了人们的担忧，这个世界上最大的阿拉比卡咖啡豆生产国下一季节的产量将会下降，从而加剧全球供应紧张。巴西在8月和9月遭遇了70年来最严重的干旱，随后在10月又遭遇暴雨，令人担心这种开花作物会枯萎。
第一，学习secure的用法。这个词作及物动词，表示to get or achieve something that will be permanent, especially after a lot of effort，〔尤指经过大量努力〕获得，得到，例：Boyd’s goal secured his team’s place in the Cup Final. 博伊德的进球确保了球队进入足总杯决赛。
第二，学习brokerage的用法。这个词作名词，表示the business of being a broker，经纪业务；掮客业务。
第三，学习stoke的用法。这个词作及物动词，表示to cause something to increase，加剧，激起，例：Rising oil prices stoked inflation. 油价上涨加剧了通货膨胀。常用搭配为stoke fear / anger / envy etc，例：The scandal has stoked public outrage. 这一丑闻激起了公愤。
This follows three consecutive years of supply deficit for robusta beans, as a result of poor weather in Vietnam, the biggest robusta-producing country. Brazil’s 2025-2026 arabica harvest looks set to fall short, just when the industry was banking on it to put the market into a supply and demand surplus, Araujo added.
此前，由于罗布斯塔咖啡豆最大生产国越南天气恶劣，罗布斯塔咖啡豆连续三年供应不足。阿劳霍补充说，巴西2025-2026年的阿拉比卡咖啡豆似乎注定要出现歉收，而业界正指望它能使市场出现供求过剩。
The rush to secure raw material has been exacerbated by European importers buying up beans earlier than usual this year, as they grapple with uncertainty over new EU legislation which requires them to prove the coffee they import into the bloc was not grown on deforested land.
今年，欧洲进口商比往年更早购买咖啡豆，这加剧了抢购这种原料的热潮，因为他们正在努力应对欧盟新立法的不确定性，该立法要求他们证明他们进口到欧盟的咖啡不是在毁林土地上种植的。
EU authorities are due to apply a 12-month delay to the legislation, which comes into effect at the start of the new year. However, lawmakers in the bloc have also proposed amendments to the law, but are opposed by member states. An agreement is not likely until mid December. Traders are concerned the delay may not be approved, or would come late to be recorded in law by the end of the year.
欧盟当局计划对该立法实施12个月的延期，该立法将于新年初生效。然而，欧盟立法者提出的修正案遭到了成员国反对。预计要到12月中旬才有可能达成协议。交易员们担心，延期可能无法获得批准，或者无法在年底之前被写入法律。
第一，学习consecutive的用法。这个词作形容词，表示consecutive numbers or periods of time follow one after the other without any interruptions，连续的，不间断的，例：It had rained for four consecutive days. 雨接连下了四天。
第二，学习fall short of sth的用法。这个词组表示to be less than the amount or standard that is needed or that you want，未达到……；不足……；未满……，例：This year’s profit will fall short of 13%. 今年的利润将不足13%。
第三，学习exacerbate的用法。这个词作及物动词，表示to make a bad situation worse，使恶化；使加重，例：The recession has exacerbated this problem. 经济衰退使这个问题更加严重。
With European roasters rushing to build their inventories for next year, “US roasters have come into the market too to make sure they do not get priced out,” Araujo said.
随着欧洲烘焙商争相为明年建立库存，“美国烘焙商也开始涌入市场，以确保他们不会被价格挤出市场，”阿劳霍说。
US roasters are also responding to president-elect Donald Trump’s promise to impose import tariffs on a range of goods once he takes office in January, said Carlos Mera, head of agricultural commodities at Rabobank.
荷兰合作银行农产品负责人卡洛斯•梅拉(Carlos Mera)表示，美国当选总统唐纳德•特朗普(Donald Trump)承诺在1月上任后对一系列商品征收进口关税，美国烘焙商也是在对此作出回应。
“If you are a roaster and you believe that there will be tariffs on coffee, you will try to import now, because otherwise you will be paying tariffs later,” said Mera, adding that about 23 per cent of global exports go to the US.
“如果你是烘焙商，并且相信咖啡将被征收关税，你会设法现在就进口，因为你之后将支付关税，”梅拉说，并补充道，约23%的全球出口流向美国。
Consumers, already facing higher coffee prices, should expect to see further increases, Mera said. “The increase in prices we’ve seen recently are not because of the latest rally, but the last one,” he said, referring to the surge in robusta prices earlier this year. “So there is still much more pain coming for consumers.”
梅拉说，消费者已经面临咖啡价格上涨，他们应该预期看到进一步上涨。“我们最近看到的价格上涨并不是因为最近的反弹，而是上一次的反弹，”他说，指今年早些时候罗布斯塔咖啡豆价格飙升。“因此，消费者仍将面临更多痛苦。”
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