It started with eggs, and coffee is next: This is why coffee prices are rising in the US

First it was eggs and now it looks like coffee is the latest daily commodity that is poised to take a surge in price.

The root of this price hike is connected to the cost of wholesale arabica beans, surpassed $4 a pound for the first time earlier in February and this price is double of what it represented 12 months ago.

The price indeed rose to a record $4.30 a pound on February 13 and coffee lovers have been advised that they can expect to pay more for their fix in the forthcoming months.

Global warming to blame

Rising global temperatures, droughts and excessive rains which struck both Brazil and Vietnam, two of the world’s two biggest coffee producers have impact on supply.

Last year’s coffee growing season was hampered by drought followed by a freezing August in Brazil and after suffering a long term drought, Vietnam was then plagued by heavy flooding which all impacted on the coffee harvest.

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When the Brazilian crop is impacted with the nation supplying almost 40% of the global coffee supply, the shortage will inevitably lead to a knock on effect which leads to an increase in prices.

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