DiscussionHQ - General Discussions
DiscussionHQ is a general discussion forum that has opened December 2024!
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Welcome to DHQ Coffee Shop
- Thread starter Joe Riley
- Start date
Nancy Hart
Well-known member
Last edited:
Nancy Hart
Well-known member
I'll Just Have a Cup of Coffee (Then I'll Go)
Coffee prices expected to rise
"Decreased harvests, increased shipping times and higher demand could send the price of ground coffee skyrocketing, FOX Business reports. In February, the average price of ground roast coffee rose to a record high of $7.25 per pound, according to government data."
"Drought and frost have resulted in reduced harvests in Brazil, Vietnam, Asia and Oceania, FOX reports. An increase in reported attacks throughout the Red Sea has led to shipping delays, the report said. Plus, there’s been longer shipping times through the Suez Canal. On top of that, China’s coffee consumption is increasing, putting a strain on supply. However, this year’s harvest could have a positive impact on prices."
“I would highlight that the market for coffee today is very speculative, because we haven’t hit harvest season yet,” J.M. Smucker CEO Mark Smucker said in a November earnings call. “A lot of the volatility we’re seeing is really related to financial speculation. As we get into the harvest, we will have more intel in terms of what that looks like.”
