Coffee prices at record high after bad weather

Published On Dec 10, 2024, 6:32 AM

Coffee prices have surged to record highs due to adverse weather conditions affecting the world's leading coffee producers, Brazil and Vietnam. Arabica beans prices have exceeded $3.45 per pound, an increase of over 80% this year. With expectations of reduced coffee crop yields and ongoing high demand, major coffee companies like Nestlé are contemplating price increases to consumer products as early as 2025.