Some people may find it impossible to imagine paying £5 in London or $7 in New York for a cup of coffee, but a “perfect storm” of economic and environmental conditions in the world’s top coffee-producing regions may soon make these prices a reality.
According to expert Judy Ganes, the price of unroasted beans traded on international markets is currently at a “historically high level”.
The world’s smelliest fruit, depleting stockpiles, market forces, and problematic crops are all cited by experts as causes.
How did we get here, and how much will this affect your latte in the morning?
The world’s top producer of Arabica beans, or coffee beans, is Brazil. In 2021, a freak frost destroyed the country’s coffee plantations.
Due to this shortage of beans, consumers resorted to nations like Vietnam, which is the main supplier of Robusta beans, which are commonly used in instant blends.
However, the area’s farmers were dealing with the worst drought in almost ten years.
Will Frith, a Ho Chi Minh City-based coffee analyst, claims that climate change has an impact on the growth of coffee plants, which in turn affects bean harvests.
Following that, Vietnamese growers switched to the durian, a foul-smelling yellow fruit.
