Coffee consumption up, as are prices
Despite this year's rapid rise in coffee prices, coffee consumption is up a couple percentage points to a new record high. As a matter of fact, demand has grown about 2.5% per year during the past decade.
Earlier this month, according to investors.com, arabica coffee hit a 34-year peak of $3.089 a pound. Commodities analysts expect prices to continue to rise for several months, but should start to fall next year.
This week, two coffee sellers raised their prices. Starbucks increased packaged-coffee prices by 17%, and J M Smuckers raised wholesale prices by 11%.
Earlier this month, according to investors.com, arabica coffee hit a 34-year peak of $3.089 a pound. Commodities analysts expect prices to continue to rise for several months, but should start to fall next year.
This week, two coffee sellers raised their prices. Starbucks increased packaged-coffee prices by 17%, and J M Smuckers raised wholesale prices by 11%.
posted by Ray Weisgerber | 9:25 PM
1 Comments:
Nice info! In my home town the coffee shop down the street business has increased as well.
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