Coffee Prices Soar - Your Daily Brew Just Got Pricier

Coffee Prices Soar - Your Daily Brew Just Got Pricier

Coffee prices have hit their highest level since the 1970s, driven by weak crop yields due to climate change. Both Vietnam and Brazil, top producers of robusta beans, are experiencing severe droughts. This has led to a 20% rise in bean prices, although consumers might not feel the pinch immediately. Coffee giants like Starbucks pre-purchase beans well in advance, softening the immediate impact. However, as global demand surges, notably in China, the cost might eventually trickle down to your daily cup. Despite the price hike, the actual cost of raw coffee beans constitutes a small part of what you pay at your local café. The bigger chunk goes to processing, wholesaling, and transportation. So, that $7 soy latte you love? It's not just the beans making it pricey.

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