Climate Change Drives Coffee Price Surge Amid Severe Droughts in Brazil and Vietnam
Extreme weather in the world's top coffee producers threatens future crops and hikes global prices, experts warn.
- Brazil and Vietnam, the two largest coffee producers, are experiencing the worst droughts in over 70 years, exacerbated by climate change.
- These severe weather conditions are leading to significant supply shortages, causing a sharp increase in global coffee prices.
- Experts note that the average retail price for coffee has risen by 23.2% over the past four years, with further increases expected.
- Efforts to mitigate the impact include developing more resilient coffee plants and diversifying crops, but the volatility is driving some farmers out of the industry.
- Consumers should prepare for continued price hikes, especially from smaller coffee companies less able to absorb rising costs.