Retail coffee prices have risen nearly 25% over the last four years, and unprecedented climate change-related conditions in major coffee bean-producing nations are set to further increase the cost of your morning cup. This puts coffee shops like Happy Goat Coffee Co. in a difficult position as they face rising costs and pressure from customers.
WATCH: According to Statistics Canada, retail coffee prices have risen nearly 25 per cent over the last four years. And unprecedented climate change-related conditions in two of the biggest coffee bean-producing nations means the price of your morning java is set to rise even more.The master roaster at Happy Goat Coffee Co., a chain of cafés in the nation’s capital, says it’s a hectic time for the industry.
With expectations of limited supply to come next season based on current weather conditions, coffee futures prices are up roughly 75 per cent from last year, Pesce says. However, over four years, the increase is much steeper: 23.2 per cent between July 2020 and July 2024. For those like Happy Goat who are unwilling to trade down, coffee prices will have to compensate for a commitment to quality.
“If these prices hold, there is no way that coffee roasters and cafés and restaurants will be able to hold their prices where they are,” he says.
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