Arabica coffee prices have settled sharply higher due to dryness in Brazil.
Brazil is the world's largest coffee producer, and dry weather conditions have affected the coffee crop.
The dryness has led to concerns about the quality and quantity of the coffee crop.
The price hike is expected to impact the coffee industry, as it will increase the cost of coffee for consumers.
The price of Arabica coffee has risen by more than 20% in the past month.
The price hike is also expected to impact coffee producers, as they may struggle to meet demand due to the dry weather conditions.
The situation in Brazil is being closely monitored by the coffee industry, as it could have a significant impact on global coffee prices.