Shortage Of Coffee Beans Is Causing Prices To Skyrocket
Friday, March 21, 2014
First, it was bacon — the savory breakfast treat is much more expensive due to a virus found in pigs. Now, it’s your daily cup of Joe.
Coffee, which more than 80 percent of Americans consume, has more than doubled in price since January.
The rise is partly due to a major shortage of coffee in Brazil — the world’s largest producer of coffee beans — because of a severe drought there.
But where you buy your daily cup will determine whether you have noticed whether you are paying a lot more for it or not.
Alan Bjerga of Bloomberg News joins Here & Now’s Sacha Pfeiffer to discuss the changes consumers can expect in coffee prices.
- Alan Bjerga, reporter for Bloomberg News and author of “Endless Appetites: How the Commodities Casino Creates Hunger and Unrest.” He tweets @AlanBjerga.