Rising coffee prices are becoming a reality for consumers and businesses alike. Many coffee suppliers are feeling the pressure from increased wholesale prices, which have been on the rise due to various factors. This situation is forcing companies to consider raising their prices, even though they would prefer to avoid it.
• Wholesale coffee prices reached a record high of $3.44 per pound, driven by drought in Brazil and increased demand.
• Country Fair has raised coffee prices after months of shrinking profit margins.
• Millcreek Coffee anticipates a 40% increase in costs after their current supply contract ends.
• Companies may offset coffee price hikes by adjusting prices on other products they sell.
Understanding the reasons behind these price increases is crucial for consumers. As coffee prices rise, it adds to the list of everyday expenses that are becoming more expensive. Awareness of these market dynamics can help coffee lovers prepare for changes and make informed choices.
Enjoying the read? Subscribe for free to one of the fastest-growing newsletters and get weekly coffee news (TL;DR updates) delivered right to your inbox.