Starting your day with a tall cup of coffee on the go is expected to become more expensive in the near future.
It’s just a matter of time before the steep price increase for Brazilian Coffee Beans on the world markets shows up in the everyday cost for Coffee lovers getting their daily first cup.
Prices have soared to a five-year high. Experts say it’s caused by dwindling supply and rising demand.
World coffee production for this year is expected to be down 11 million bags from last year.
Largely to blame – a devastating drought in brazil – the world’s largest supplier of coffee beans.
The international coffee organization estimates that nearly a third (30%) of the country’s arabica crop for 2021-2022 was lost due to the dry spell.
According to the wall street journal – the average coffee drink at a cafe is about $4.50. Five years ago it was $3.85.
Jonathan Bigos of West Springfield, MA had just purchased coffee for himself and his Dad at a Riverdale road coffee shop. High prices don’t worry him. Bigos said, “Myself no, I only drink one or two cups a day, so it’s really not that expensive. But we know of people who drink quite a few cups. It’s definitely going to get expensive for them.”
Brazil’s Coffee Bean farmers currently face a significant reduction in the millions of Coffee bags they export across the globe.