Why the price of coffee is pointing at this moment
The morning drink has just become more expensive.
If you re-examine yourcoffee bean The offer right now, you may notice that your GO-TO BOG-TO brand is a little more expensive than usual. In fact, this is the case around the world, because the largest coffee producer in the world is confronted with a major decline in production.
Brazil is currently facing one of its worst droughts of nearly a century, like theThe Wall Street newspaperReports, yielding an unusually low harvest. But it's not the only thing that leads price of coffee rising. A considerable lack of rainfall associated with transportation problems in countries such as Colombia and Vietnam (two other major global producers) haveactually caused coffee prices on 18% in the last three months.
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So what is the harvest of this year, exactly? Well, Brazil's farmers already warns to have a drop in production this year compared to a record year in 2020. However, drought will only exacerbate these predictions, making it the worst harvest for 20 years. TheUSDA Projects The harvest will file the largest amount since 2003.
"I grew up coffee over 50 years old and I've never seen bad drought than last year and this year", from Christina Valle, a third generation coffee farmer in Minas Gerais, the greatest growth of the coffee of Brazil the state says to theWSJ. "I normally take three months to harvest my coffee; this year, it took me a month," she said.
In addition, protests of anti-government rights and workers in Colombia have kept bean stuck in ports. And, as a result of the pandemic, Vietnam has increased shipping costs, making it more expensive to obtaincoffee beans at various destinations.
Now when you go your next trip to the grocery store orlocal coffee To pick up a bag of coffee beans, be aware that the price is superior to what is typical due to a devastating harvest, increased demand and supply chain.
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