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Drought in Brazil leading to higher coffee prices globally

By Larry Seely     Apr 25, 2014 in Food
A lack of rain in the early part of 2014 in Brazil has led to coffee prices nearly doubling over this time last year. The South American country provides nearly 1/3 of the beans used around the globe and reports aren't good on a price drop anytime soon.
Mamta Badkar of Business Insider of Australia has reported that El Nino conditions could bring more rain to the region, but effect other parts of the world, including Asia and that could keep prices on the rise.
Indonesia and Vietnam are other major producers of Arabica beans and despite the recent rain in Brazil, the lack of precipitation expected in the Southern Hemisphere this winter could lead to even higher prices for consumers, especially those purchase coffee from their favorite retailer.
Coffee giant Starbucks shouldn't be effected as the global outlet has prices set in advance with growers, but for small business owners it could become an issue, especially if demand for the product increases in the coming months.
More about food news, World news, coffee prices, brazil news, weather news
 
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