Coffee prices expected to rise after drought, frost impact plantations in Brazil

Extreme weather conditions have impacted coffee crops in some of the top-producing countries, which could mean higher prices for your morning cup of coffee.

According to a report in The Wall Street Journal, coffee farmers in Brazil -- the world's leader in coffee production -- experienced bad weather last year with both drought and frost that left some with nearly half of the arabica beans as usual.

Brazil will produce 35.7 million bags of coffee in the 12 months starting in July, analysts told the newspaper. In contrast, two years ago the country produced a record 48.7 million bags of beans.

PHOTO: A worker roasts coffee at a coffee shop in Buenos Aires, Argentina, on July 19, 2022. (Luis Robayo/AFP via Getty Images)
PHOTO: A worker roasts coffee at a coffee shop in Buenos Aires, Argentina, on July 19, 2022. (Luis Robayo/AFP via Getty Images)

Coffee prices first shot up last year after several years of steady pricing. But like many industries, coffee has been hit with supply chain and other pandemic-related issues.

A number of coffee shops have since upped their prices and the International Coffee Organization said global consumption will again outpace production, with prices set to climb even higher.

MORE: 3 reasons why coffee prices are rising

As the U.S. deals with its highest inflation in decades, the average price for a pound of coffee is $6.11 in July, whereas a year ago the price was just $4.56, according to the Bureau of Labor Statistics.

It's still possible to save by skipping the coffee shop and making that morning brew at home, but ground coffee at the supermarket is also going up in price.

Coffee prices expected to rise after drought, frost impact plantations in Brazil originally appeared on goodmorningamerica.com