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Coffee prices are expected to increase due to the recent surge in Arabica coffee bean prices, which have gone up to $3.50 a pound. This increase is attributed to climate change, with droughts, frost, floods, and other unpredictable weather events affecting coffee production in countries like Brazil and Vietnam. Experts warn that these weather events will become more frequent in the future, necessitating investments in agricultural research and development to address the impacts of climate change on crop yields.
This rise in coffee prices will impact consumers, roasters, and distributors, with costs likely to rise by 50 cents to $1 per cup. Jackie Newman, vice president of World of Coffee Inc., notes that the increase in coffee prices is also compounded by rising costs in packaging and labor. The shortage of coffee supply due to weather events is expected to have a trickle-down effect on the entire supply chain, ultimately impacting the everyday consumer.
In addition to coffee, other crops are also at risk of price increases due to climate-related events such as floods and droughts. For example, oranges and lettuce prices have been affected by recent weather events, with beef production also experiencing price impacts. Overall, the increase in coffee prices is a reflection of the broader challenges faced by the agricultural sector in adapting to and mitigating the effects of climate change on crop production.
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