Impact of Climate Change on Coffee Prices
The price of high-quality arabica coffee beans is expected to increase due to climate change affecting coffee-growing regions like Brazil and Vietnam. Experts warn of rising costs for consumers and businesses in the coffee industry.
Key Points
- Price of high-quality arabica coffee beans spiked to $3.50 a pound, up 70% this year
- Climate change leading to droughts, frost, floods, and high temperatures affecting crop yield
- Experts emphasize the need for investments in agricultural research and development to mitigate impacts of climate change
- Coffee prices expected to increase by 50 cents to $1 a pound in the near future
Pros
- Increased awareness of the impact of climate change on agricultural production
- Encouragement for investment in agricultural research and development
Cons
- Rising costs for coffee lovers and businesses in the coffee industry
- Potential decrease in availability of high-quality coffee beans