The article discusses the significant rise in coffee prices, with Arabica coffee futures increasing from $2 to $4.30 per pound in just one year. This surge is affecting Bay Area cafes and coffee roasters, who are compelled to pass the costs onto consumers. The increase in prices is attributed to severe weather impacts on global coffee bean harvests, reflecting broader concerns over climate change's impact on agricultural supply. Additionally, coffee producers only retain about 10% of the value generated by the coffee market, raising issues of fairness in the industry.
In February, the cost of Arabica coffee futures surged over 100%, reaching $4.30 per pound from $2 last year, impacting retail prices.
Experts attribute the rising coffee prices to severe weather affecting global harvests, with climate change threatening farming regions and supply.
With increasing demand for coffee, the supply could be compromised, resulting in higher retail prices for consumers in the Bay Area.
Despite rising costs, coffee producers retain only about 10% of the value generated by the coffee industry, raising concerns over fair compensation.
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