As if coffee from your local chains wasn’t expensive enough already, it looks like prices for your morning cup are, even more so, on the rise. Crops in South America have been threatened by bad weather, forcing Brazil to talk about hoarding their stocks. With US stockpiles at a 10-year low, both US coffee companies and consumers will be faced with higher prices.
Unfortunately, you’ll not only see a rise in prices at your local chains. You’ll probably notice price increases in the supermarket aisle as well. This is what CNN Money had to say:
As retailers start paying more, the coffee you drop into your shopping cart may very soon start costing you more at the register.
Supermarket chain Publix said it has left some coffee prices unchanged to remain competitive. But the grocer has boosted prices on some brands, including a container of Folgers Classic Aroma Coffee, which used to cost $8.99 and is now being sold for $9.99.
While a large crop should be coming from Brazil next year, poor weather may cut coffee production in both Vietnam (another large distributer) and Central America from 2010 to 2011.
Time to do some bulk buying, perhaps, for all you coffee drinkers out there?
Check out the full article over at Coffee prices soar, you may feel the pinch.