𝙲𝚘𝚏𝚏𝚎𝚎 𝙿𝚛𝚒𝚌𝚎𝚜 𝙷𝚊𝚟𝚎 𝙷𝚒𝚝 𝚃𝚑𝚎𝚒𝚛 𝙷𝚒𝚐𝚑𝚎𝚜𝚝 𝙻𝚎𝚟𝚎𝚕 𝙸𝚗 𝙰 𝙳𝚎𝚌𝚊𝚍𝚎
We're all bored of hearing about inflation, but our ears pricked up when we heard that coffee prices are at their highest level for more than a decade, at ~$2.50 per pound.
Few commodities invoke emotion like coffee, with 62% of Americans drinking coffee every single day — each with about 3.1 cups on average.
The most important global coffee supply source is Brazil, which churns out more than 37% of all production. Unfortunately, Brazil has been hit by lower-than-expected temperatures, drought and even some frost. Ethiopia, with about 4% of global production, is also seeing supply disruptions due to escalating civil war. Ongoing shipping bottlenecks are also playing their part.
Considering that wholesale prices have doubled since last year, you'd be forgiven for worrying that the price of your latte is about to double too. But will it? We will see tomorrow.
𝙲𝚑𝚊𝚛𝚝𝚛 | 𝙳𝚊𝚝𝚊 𝚂𝚝𝚘𝚛𝚢𝚝𝚎𝚕𝚕𝚒𝚗𝚐
