Highwire Coffee Roasters has announced a price increase for most of its beverages, primarily due to the skyrocketing costs of ingredients, especially coffee beans. The company's letter to customers cites that green coffee prices have doubled while other inputs like milk and cocoa have risen significantly. This price surge is attributed to decreased coffee production in Brazil and broader climate change impacts that are set to reduce suitable coffee-growing areas by 2050. Highwire's co-founder, Robert Myers, acknowledged the delayed response to rising costs, ultimately leading to the price adjustments for their drinks.
According to reports by Bloomberg, Brazil's harvest this year was lower than projected, restricting the supply of arabica beans and raising the price.
Robert Myers, the co-founder of Highwire, said the price of coffee has been going up steadily over the past year, and, at first, he watched the price rise but tried not to raise their prices.
#coffee-prices #climate-change #food-and-beverage-industry #highwire-coffee-roasters #ingredient-costs
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