Coffee Prices Could Soon Jump
Michael Chen
Senior Web Developer
Coffee lovers might get a little hot over this one. Prices could be going up significantly in the coming months.
Some experts predict the price of coffee beans could jump as much as 40 percent.Poor weather and a greater demand for coffee in growing markets helped push the price of coffee beans higher. Now predictions of a possible freeze in Brazil are driving speculation that the price could go above $4 a pound, for raw beans.
Local coffee roasters have also had to raise their prices.
“It is substantial,” said Bob Cowdery, co-owner of Finger Lakes Coffee Roasters. “We're hoping we don’t have to do another one, but if it continues in the same direction it has, we may have to do another price increase.”
Coffee shops are trying to hold the line on their prices; some more successful than others.
“For the last five years, we've been able to absorb it ourselves in anticipation of things getting better,” said John White, owner of Equal Grounds coffee house in Rochester. “We don't intend on passing it on, as long as we're able to.”
White says he's had to get creative by cutting costs elsewhere, and staying open longer hours – to keep the cost of a cup of coffee steady.
Source: centralny.ynn.com/content/top_stories/541699/coffee-prices-could-soon-jump/
Watch the video here http://centralny.ynn.com/content/top_stories/541699/coffee-prices-could-soon-jump/
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