The coffee market is facing severe challenges due to a combination of climate change, geopolitical issues, and escalating trade wars. With prices reaching a record high of $7 per pound, consumers are feeling the strain. Factors contributing to this increase include poor harvests in Brazil and Vietnam, which are the world's leading coffee producers, and a significant rise in demand, particularly from China. Furthermore, trade tensions, particularly with tariffs on imports from Mexico and Canada, threaten to worsen the situation for both consumers and producers.
For coffee lovers, getting their caffeine fix is becoming more expensive - and there's little relief in sight.
Behind these surging prices is a complicated mix of drivers. Disastrous growing seasons in Brazil and Vietnam have meant fewer beans on the market.
Disastrous growing seasons in the world's two biggest coffee producers, Brazil and Vietnam, have meant fewer beans on the market. But demand is growing, too.
As if there wasn't enough already, geopolitical turmoil and new deforestation regulations are contributing to the squeeze.
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