A drought in Brazil is driving up the cost of coffee to 14-month highs, and consumers may start seeing the prices increases hit stores within the next couple of weeks.
Analysts expect Brazilian suppliers, who provide a third of the world’s coffee, to lose as much as 30% of their crop in the scorching weather, Bloomberg reports. January and February were Brazil’s driest months in three decades.
The expected losses have pushed the cost of arabica coffee — a popular roast used in gourmet blends — 55% higher this year, according to the Wall Street Journal.
Price fluctuations in the coffee market typically take months to hit consumers. But the increases are so steep this year that it may only be a couple weeks before consumers are impacted, according to the Journal.
The higher prices will hit supermarkets first, affecting retail bags of coffee, before coffee shops consider raising their prices.
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