Coffee, tea, cocoa can be luxury products
The prices of coffee, tea and cocoa may rise significantly in the near future: the combined effect of climate change and geopolitical tensions poses a serious threat to our wallets and our daily breakfast. According to a Financial Times report, in addition to inflation, the instability of supply chains also contributes to the fact that these staple foods may soon become luxury goods.
In the modern, globalized world, where coffee, tea and cocoa have become a part of everyday life, it is easy to forget how complicated it is to get from the crops to the consumers. These popular drinks have been a part of European culture for centuries and are closely related to imported products from Asia and Africa, the method and routes of which are, however, significantly affected by geopolitical events and climate change.
Climate change and geopolitical tensions are both straining supply chains. Coffee, tea and cocoa arrive in Europe on container ships, whose routes have become unstable as a result of recent events. The Israeli-Hamas war and the attacks by the Yemeni Houthis caused confusion on the shipping routes, while the Suez Canal and the Panama Canal were also threatened. The re-emergence of Somali pirates and drought are also hampering global supply chains.
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