Coffee lovers may enjoy their daily brew—whether it’s made with a French press, espresso machine, drip pot, or instant mix—but they’re likely not enjoying the rising cost. Coffee prices have climbed to their highest levels in 50 years.
This spike is hitting local businesses hard, including Coffee Hound Coffee Co. in Maine.
“Last year, we were paying around $2.20 per pound for green coffee. Now it’s over $4.00,” said Chris Keegan, founder of Coffee Hound.
Keegan sources beans from places like Costa Rica, Ethiopia, Java, and Sumatra. However, he says that global prices largely depend on one key player: Brazil.
“If Brazil has a bad year, it doesn’t matter if every other country does well,” Keegan explained. “Coffee prices still follow Brazil in the commodities market.”
Last year, Brazil suffered a major drought, which caused the price of arabica coffee—the most commonly consumed variety—to rise by 70%.
This sharp increase affects everyone along the coffee supply chain, from farmers to roasters to everyday consumers, all of whom are now facing higher costs for their favorite drink.
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