Following challenging growing seasons in some of the world’s top producing areas, coffee beans are reaching record high prices not seen in over 50 years.
In Brazil, the world’s largest producer of coffee, accounting for about 39% of the world’s supply, roasters are planning.
To increase prices on the widely consumed caffeinated products after a year of challenging drought and periods of intense rainfall.
According to a Wall Street Journal story earlier this week, the price of raw Arabica coffee surged to a new high of about $3.44 per pound, surpassing the previous record of $3.35 set in 1977.
The South American grower has already expressed worries about the weather for next year’s crop, with prices up more than 83% so far this year.
