Everything feels like it is getting more expensive, so I guess why shouldn’t coffee be a part of the price spikes? Coffee prices are skyrocketing. But this isn’t so much COVID related as it is more of a weather issue impacting coffee crops.
It’s the worst drought in roughly a century, killing as much as 70% of the coffee crops in some areas and causing farmers to struggle to harvest enough beans to meet the global demand. According to the Wall Street Journal, prices for arabica coffee beans have hit their highest level since 2016.WPRI.com
Besides a lack of rainfall, a vicious cold snap is also proving to be catastrophic, July 20’s frosts were the strongest since 1994 and have already damaged up to 495,000 acres of coffee fields, according to Reuters.
So, it appears your $8 venti coffee may just get even more expensive.