WFAA TV reports
Most menus do not yet reflect it, but customers will soon pay more for a cup of coffee.
“The prices haven’t been this high for 14 years,” said Bob Baker, owner of White Rock Coffee.
The commodity price for coffee has almost doubled since last summer, Baker said, from $1.40 per pound to $2.72. [...]
Industry experts said several reasons are behind the increase. Bad weather has led to bad harvests for several years in popular producing countries like Brazil, Colombia and Vietnam.
Plus, worldwide demand is going up. More people are drinking coffee.
Brazil is now keeping and consuming a larger portion of the coffee it used to export.
Finally, speculators are driving up the cost as well.
Coffee prices are predicted to remain high for at least a couple of years.