Coffee prices push toward fifty-year high

17 December 2024

The last few years have been bad for both producers and consumers of coffee. Extremes of weather in growing regions has resulted in diminishing coffee bean harvests, which has in turn pushed up prices. This is a topic I’ve been covering for a while here now, but it seems coffee is only going to get more expensive going forward:

On Wednesday, the price for Arabica coffee, the world’s most popular variety, hit its highest level in nearly 50 years, with a pound of beans (453.6 grams) listed in New York for US$3.20 ($5.02). The all-time high was US$3.38 ($5.30) for a pound of Arabica beans in 1977 due to snow destroying swathes of Brazil’s plantations.