Coffee drinkers face price rises as costs on global markets hit record high

The cost of arabica coffee beans has surged over 80% this year, reaching $3.44 per pound, following predictions of smaller harvests due to adverse weather in major producing countries.

Nestle has warned consumers of rising coffee prices, with the price of their Nescafe Original instant coffee increasing by 15% year on year, indicating unprecedented cost pressures in the industry.

Giuseppe Lavazza emphasized the unique nature of the current price spike in coffee, stating, 'We have never seen such a spike in price as the trend right now,' signaling an unprecedented strain on supply chains.

The coffee supply chain is under dramatic pressure due to recent weather events in Brazil which have affected coffee production, raising concerns over the future availability of high-quality beans.

Read at www.theguardian.com