This year, Brazil suffered its worst drought in 70 years, followed by torrential rains that jeopardized the next harvest and worsened global supply problems. At the same time, Vietnam has seen low production levels for three consecutive years.
In response to rising prices, Nestlé, the world’s largest coffee company, has already increased its prices. A trade analyst told The Financial Times that roasters are rushing to import beans now to avoid paying higher tariffs later.
Source: Ferra
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