A bad news for coffee lovers as the prices of the beverage are going up rapidly.
According to the British Broadcasting Corporation, the price of coffee in the world market has reached the highest level in history, as a result of which the drink is likely to become more expensive for coffee drinkers.
Arabica beans, which make up the bulk of the world’s coffee production, hit $3.44 a pound, up 80 per cent this year, while robusta beans hit a record high in September. was
Brazil and Vietnam, two of the world’s largest coffee producing countries, are experiencing crop losses due to weather effects, while the popularity of coffee is continuously increasing.
According to experts, major coffee brands are considering raising prices as early as 2025.
Brazil’s worst drought in 70 years and heavy rains have damaged the arabica bean crop, while Vietnam’s robusta bean production has also been affected.
Due to the increase in the demand of coffee and decrease in the production, the trend of increase in prices is likely to continue.
