Home » Lifestyle » Coffee prices skyrocket as demand increases and Brazil suffers drought
Coffee prices skyrocket as demand increases and Brazil suffers drought
Fox Business Flash top headlines for July 13
Check out what’s clicking on FoxBusiness.com.
Coffee is getting more expensive, according to a recent report.
A drought in Brazil coupled with an increase in demand for coffee as the world reopens after the coronavirus pandemic has led to higher coffee prices, according to a report from The Wall Street Journal.
The newspaper reported that the price of arabica coffee beans, which is Brazil’s main coffee variety, hit its highest level since 2016 last month, as the country’s coffee harvest is expected to drop dramatically this year because of the drought.
POPEYES SPARKS MEMORIES OF ‘CHICKEN WARS’ WITH NEW MENU ITEM
"I’ve been growing coffee more than 50 years, and I’ve never seen as bad a drought as the one last year and this year," Christina Valle, a coffee grower in Minas Gerais, Brazil, told The Journal. "I normally take three months to harvest my coffee; this year it took me a month."