Russian media has warned of an upcoming sharp rise in the price of the globe’s favorite morning drink – coffee – amid a worldwide shortage of beans.
“According to market players, retail coffee will rise in price by 20-30%. At the same time, the maximum price increase will be for the cheaper varieties… up to 40%,” Russia’s Izvestia newspaper warned.
According to analysts, major exporters may simply not have enough beans to supply the caffeine-thirsty market. Brazil has been facing record crop failures due to cold weather and drought. In Colombia, rains destroyed part of the crops, and Ethiopia was on the verge of a civil war. At the same time, all around the globe, the coffee industry,…