Prices have been rising steadily over the past four or five years but these rises have accelerated since May of last year. Coffee roasters are passing some of the cost on to consumers. Last fall, Starbucks said it was raising the price of large and labor-intensive drinks to offset the cost of coffee beans.
Meanwhile, the price of packaged Dunkin’ Donuts and Folgers coffee products sold in retail outlets rose by 10 percent this month. And with coffee prices hitting a 14-year high and rising more than 100 percent in the past 12 months, more hikes could be on the horizon.Read More
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Arabica coffee surged to a 13-year high on signs that shrinking supplies in Brazil and Colombia, the world’s two biggest producers, will fail to keep up with demand. Sugar fell.
Arabica prices have surged 84 percent in the past year. Starbucks Corp. this week forecast second-quarter profit that fell short of analysts’ estimates as it projected paying more for coffee. A growers group in Colombia said it expects output to fall and a researcher said that Brazil’s crop will decline.
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