Coffee Price Pressure Soars Again
A drought in Brazil has pushed coffee bean prices to an all-time high, followed by a climate crisis in Kenya, another coffee crop giant. Kenya exports coffee to the US more than any other country.
*The Coffee Economy
Semafor states, “Shifting rainfall patterns have left some farmers struggling to irrigate crops, and diseases are spreading more rapidly.” The crop problems create inflation in the price of one of the most commonly used foods in the US. It affects the consumer through the price of coffee people brew at home and what they spend at coffee shops like Starbucks, Dunkin’ Donuts, and McDonalds.
Food price inflation has been tamed since the CPI rose 8% just over two years ago. The index has been brought down to under 3%, but as component prices rise, so does the entire index. Part of an increase would have to do with climate-driven shortages. In addition, tariffs could push the index up.
Soybeans And Rice
Recently, the WEF released a paper on the effects of climate change on crop shortages and prices. It examined soybeans, olive oil, rice, potatoes, and cocoa. The largest damage in the US was to soybeans. The most widespread crop was rice, which suffered from climate challenges from India to Asia.
Access to food, driven by the climate crisis, becomes a larger problem almost every year.
More from ClimateCrisis 247
- Will AI Supercharge Tesla?
- US Gives Up On Climate Reporting
- Housing Supply Surges In Miami And Orlando
- AI Power Demand Surges As Green Energy Falters
