Coffee Prices Soar After Bad Harvests and Insatiable Demand

[mystery-ak]

Coffee Prices Soar After Bad Harvests and Insatiable Demand
July 12, 2021 8:41 am ET

Global consumption set to exceed production this year as Brazil is hit with worst drought-driven drop in output in almost 20 years

Global coffee prices are climbing and threatening to drive up costs at the breakfast table as the world’s biggest coffee producer, Brazil, faces one of its worst droughts in almost a century.

Prices for arabica coffee beans—the main variety produced in Brazil—hit their highest level since 2016 last month. New York-traded arabica futures have risen over 18% in the past three months to $1.51 a pound. London-traded robusta—a stronger-tasting variety favored in instant coffee—has risen over 30% in the past three months, to $1,749 a metric ton, a two-year high.

Brazil’s farmers are girding for one of their biggest slumps in output in almost 20 years after months of drought left plants to wither. Brazil’s arabica crop cycles between one stronger year followed by a weaker year. Following a record harvest in 2020, 2021 was set to be a weaker year, but the drop is more severe than expected.

“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,” said Christina Valle, a third-generation coffee grower in Minas Gerais, Brazil’s biggest coffee-growing state. “I normally take three months to harvest my coffee; this year it took me a month,” she said.

https://www.wsj.com/articles/coffee-prices-soar-after-bad-harvests-and-insatiable-demand-11626093703?mod=e2fb&fbclid=IwAR1jy6_hlNb-hv6Tk5AKa4oNL-VLDvkjhYtkDBJ2uLWEmUMUSJTfbQmq5eg

[dfwgator]

[roamer_1]

Thank you @Smokin Joe ... I am sitting on 50 lbs (2 sacks) of beans... And it is your fault. 

Went a different way than you - These are green, and I have to roast em myself... but I am told they keep indefinitely that way

[240B]

Thank you @Smokin Joe ... I am sitting on 50 lbs (2 sacks) of beans... And it is your fault. 

Went a different way than you - These are green, and I have to roast em myself... but I am told they keep indefinitely that way

@roamer_1
Me too.
I bought 100lbs of coffee a year ago, along with everything else.
My clothes closet contains no clothes. It's all canned goods, dry pasta, crackers, and such.
But yes, I have coffee enough until I die.

[roamer_1]

@roamer_1
Me too.
I bought 100lbs of coffee a year ago, along with everything else.
My clothes closet contains no clothes. It's all canned goods, dry pasta, crackers, and such.
But yes, I have coffee enough until I die.

@240B
I might could have bought more, but then I'd have no place for the tea... And if I MUST choose, Sweet Tea uber alles. I DO love my coffee, but tea will do... Years of being in the backwoods made tea a likely breakfast drink (easier to carry)

My pantry is still a mess from the whole covid thing. I ate it down pretty far. I am maybe up to 4 months or so, Though I have more meat than I can stand. Probably won't bag anything more than fish and a deer this year for lack of a place to put em.

I was relying on the harvest to fill my shelves, but that ain't looking very likely. We have been near 100 degrees since mid June, and no end in sight - and now we are getting smoke. The garden is drying on the vine. Parched... I have shade cloth coming, but no telling when it gets here, and it might already be too late.

And jars and lids are still a bother.... Getting close to a decision. f I ain't fixed in the next two weeks, the garden is getting abandoned, and I am gonna be buying up canned goods to beat the band.

[DefiantMassRINO]

Brazil's loss is a gain for other coffee producers.

[mountaineer]

Brazil's loss is a gain for other coffee producers.

The rest of Central and South America need to get on the stick.