Prices for coffee futures traded in the Intercontinental Exchange in New York approached an all-time high this week as the market continues to climb amid the U.S. tariffs and a dry September in Brazil, which could hurt production. Arabica coffee futures KCc2 earlier rose to a session high of $4.24 per pound, a seven-month top and not far from the all-time peak of $4.29 per pound for the most liquid contract hit earlier this year. 'Persistently High'Coffee is one of the items that are keeping food prices in the United States persistently high. ADVERTISEMENTRoasted coffee prices at grocery stores in the U.S. rose 20.9% in August from a year ago, according to Bureau of Labor Statistics data. Cardiff refers to the fact that the U.S. coffee industry had been late on hedging amid the tariff situation.