Is the price of your morning coffee on the rise?
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It is not a great time to be a coffee drinker. In general, coffee bean prices are the highest they've been in more than a decade.
It is not a great time to be a coffee drinker.
In general, coffee bean prices are the highest they’ve been in more than a decade, according to Gavin Fridell, a global development studies professor at St. Mary’s University.
Prices are expected to rise even higher as two of the largest coffee producers face unprecedented drought.
Brazilian coffee plantations are grappling with the country’s worst drought it’s seen in 70 years. Wildfires have decimated coffee crops.
Similar heat and drought conditions in Vietnam are already impacting next year’s crops.
“When both of these two large coffee producers are having a crisis then prices in general are going to be driven up,” Fridell said.
Brazil is the largest coffee producer in the world. Vietnam is the second largest. Together, the two countries make up about half of the global coffee supply.
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