Your morning coffee is about to hit your wallet harder.
A mix of supply problems and market shifts is pushing up prices for both fancy arabica and budget-friendly robusta beans.
Everyone from big brands to corner cafes is feeling the pinch.
JM Smucker Co., owner of Folgers, has already hiked prices. Small shops are following suit.
Patrick Grzelewski of Variety Coffee Roasters in New York City “>says, “It’s just not something anyone can avoid anymore.”
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So why the sudden jump?
Weather is a big factor. Droughts in Vietnam, a major robusta producer, have cut supplies.
Price volatility is an inevitable part of the #coffee industry. With recent spikes in both #arabica and #robusta prices, #roasters have to figure out the best ways to adapt and stay agile.
👉https://t.co/WcfgGejvnV pic.twitter.com/F2DWfiQBIr— Perfect Daily Grind (@PerfectDailyG) July 18, 2024
Brazil’s dry spell is hurting arabica crops too. But there’s more to it than just bad weather.
China’s growing thirst for coffee is tightening the market.
There’s also a push to pay farmers more fairly.
New rules are also adding to the problem. European Union regulations on deforestation are making imports trickier.
For coffee lovers, this means saying goodbye to super cheap deals.
Robusta coffee prices just hit a fresh 45-year high ☕️📈🤬
(The main driver remains bad weather in Vietnam, but on the background is the rapid rise in coffee consumption in tea-loving China. I did an @Opinion video column about both a few weeks ago)pic.twitter.com/CkYdi6uKxx
— Javier Blas (@JavierBlas) July 9, 2024
Coffee shops are getting creative to keep customers.
Some are trying “beanless” coffee made from recycled ingredients. Others are pushing tea as an alternative.
The takeaway?
Coffee drinkers should brace for higher prices and possibly fewer options.
Your daily caffeine fix is about to become a pricier habit.
