PHOENIX (AZFamily) ― You could be spending more on a cup of coffee due to climate factors in Brazil and Vietnam.
The cost of wholesale arabica beans, the most popular on the planet, surpassed $4 per pound for the first time last month. Last year, it was less than $2 a pound.
The retail price of ground coffee hit an all-time high of $7 a pound in January, up 75% from $4 in January 2020, according to U.S. government data.
The 2024 coffee growing season saw a drought followed by an August frost in Brazil, and flooding in October came in the wake of a drought in Vietnam. Brazil’s coffee exports during that month month were down 7.4% year-over-year, and Vietnam’s December export fell nearly 40%, according to CBS News.
Arizona’s Family reached out to Press Coffee, one of the larger coffee chains in Arizona, to see if this cost will be passed down to the consumer. They said right now they don’t have any plans to raise prices because the market is volatile.
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