Global tea and coffe prices rise by up to 50% with extreme weather affecting crops and Red Sea Crisis hindering Container ships.
Wholesale coffee prices are up by more than 20% since January after crops were hit by extreme weather in key producing countries, including Vietnam and Brazil
Southern Mexico, about 150 coffee farmers on the Edelmann family farm work with their hands for hours on end.”If you don’t have the right weather, you will not have the right production,” he said. “And with low yields, obviously your cost of production goes up.”
The price of robusta bean futures hit £ 3,211 per ton on the London markets this week, up 20% on January’s £ 2,674. And in New York, the price of arabica beans hit $ 5,105 (£ 4,125) per ton, a rise of 23% on $ 4,151 (£ 3,354) over the same timeframe.
Conditions on the other side of the world are impacting the price of the daily cuppa for Australians.
