Due to the devastating Brazilian drought, coffee could become more expensive this year

By: Trademagazin editor Date: 2021. 07. 13. 11:18

Coffee has become more expensive in the recent period, only this has not been experienced by consumers yet: the most severe drought of the past 100 years hit Brazil this year, which has led to a shortage in the coffee bean market, according to the Financial Times.

According to an article in the Financial Times, the speculative price of arabica coffee beans in New York was at a four-and-a-half-year high, up 70 percent from last year. Since then, although the exchange rate has slipped slightly lower, the price increase is still significant compared to last year. (Horváth Bence, 444.hu)