"Coffee prices will likely rise next year due to global supply shortages" By Katia Cortes Bloomberg December 22, 2010 Coffee production in Brazil, the world’s biggest grower, may drop to the lowest in four years in 2011, pushing up prices as trees enter the lower-yielding half of a two-year cycle, Agriculture Minister Wagner Rossi said. Growers will harvest 37 million bags, down 23 percent from 48.1 million bags estimated for this year, Rossi said in an interview in Brasilia today. Coffee prices will likely rise next year as global demand outpaces supplies amid declining stockpiles, he said. “Prices will likely remain on a steady rise,” Rossi, 67, said at his office. “World demand is firm and global stockpiles are low.” Coffee, which has surged 72 percent this year, extended a rally to a 13-year high earlier today on concern adverse weather in Brazil and India will pare global supplies. Arabica coffee for March delivery reached $2.4225, the highest since June 19...