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Cup Of Coffee Might Cost More Thanks To Brazilian Drought
By
Christopher Robbins
Published Apr 27, 2014
Modified Apr 27, 2014
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By
Christopher Robbins
Published Apr 27, 2014
Modified Apr 27, 2014
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A drought in Brazil, where a third of the world's coffee is grown, may cause the price of beans to rise enough to affect your habit.
According to a report filed by the International Coffee Organization, "ongoing uncertainty over the Brazilian coffee crop has caused significant fluctuations in coffee prices." This won't affect companies like Starbucks, which buys its beans two years in advance to stem market variabilities, but smaller buyers will likely be forced to raise prices.
“I think we’re likely to see coffee prices move upward anywhere from 20, 25 percent in mainstream grocery channels,” a market analyst told CBS.
Given that these droughts are only going to become more frequent, your $10 licorice latte might be your grandkid's Krappy $10 K-Cup.
Tagged
brazil
climate change
coffee
Christopher Robbins
Christopher Robbins is a New York City reporter covering transportation, affordable housing, local politics, and criminal justice. His work has also appeared in New York Magazine, The Village Voice and The New York Times. Chris is a graduate of Patrick Henry High School in Roanoke, Virginia, and enjoys biking to Fort Tilden in the summertime.
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Gothamist is funded by sponsors and member donations
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