The price of your morning cup of coffee is going up – here's why
There’s a storm brewing for anyone who can't start their day without a cup of joe.
Coffee prices have been steadily climbing since January, and experts believe more increases are on the way, in part due to climate change.
“Coffee prices at retail have gone up about 17 per cent so far since January and we are expecting more increases by the time we're done with 2021,” said Sylvain Charlebois, senior director at the agri-food analytics lab at Dalhousie University in Halifax.
The weather is causing an impact. In late July, Brazil, which is one of the largest coffee producers in the world, saw snow for the first time in years, affecting the harvest of Arabica beans and sending coffee price higher.
“Futures actually went over $2 U.S. a pound for the first time since 2014, and it really spiked very rapidly,” explained Charlebois.
Higher transport costs are also to blame.
And the recent UN report on climate change has experts worried more price hikes are on the way for the weather-sensitive crop.
Worldwide coffee demand keeps rising, said Charlebois.
“Even in china Asia. They're getting more acquainted with a strong coffee, essentially, and so demand for Arabica beans is going way up,” he said.
And there’s no doubt Canadians love their coffee. The average Canadian consumes 5.5 kilograms of it every year, making us one of the most coffee-loving nations in the world.
The price hikes are a positive, though, for struggling producers, said Andrew Kyres of the Canadian Roasting Society.
“The majority of the coffee we source, like 90 per cent, is from small-holder farmers who basically live below poverty line and struggle daily wondering if they even want to continue growing a crop like coffee for the margins they receive,” he said.
Many cafés say higher bean costs will likely lead to higher prices.
“The profit isn't crazy right now,” said Matisse Gill, head roaster of Melk café. “So we do need to match it and a bit more than what it is now.”
CTVNews.ca Top Stories
B.C. tenants evicted for landlord's use after refusing large rent increase to take over neighbouring suite
Ashley Dickey and her mother rented part of the same Coquitlam duplex in three different decades under three different landlords.
MPP Sarah Jama asked to leave Ontario legislature for wearing keffiyeh
MPP Sarah Jama was asked to leave the Legislative Assembly of Ontario by House Speaker Ted Arnott on Thursday for wearing a keffiyeh, a garment which has been banned at Queen’s Park.
Mountain guide dies after falling into a crevasse in Banff National Park
A man who fell into a crevasse while leading a backcountry ski group deep in the Canadian Rockies has died.
Body of Quebec man who died in Cuba found in Russia, family confirms
A Montreal-area family confirmed to CTV News that the body of their loved one who died while on vacation in Cuba is being repatriated to Canada after it was mistakenly sent to Russia.
Expert warns of food consumption habits amid rising prices
A new survey by Dalhousie University's Agri-Food Analytics Lab asked Canadians about their food consumption habits amid rising prices.
Saskatchewan isn't remitting the carbon tax on home heating. Why isn't my province following suit?
After Prime Minister Justin Trudeau said the federal government would still send Canada Carbon Rebate cheques to Saskatchewan residents, despite Saskatchewan Premier Scott Moe's decision to stop collecting the carbon tax on natural gas or home heating, questions were raised about whether other provinces would follow suit. CTV News reached out across the country and here's what we found out.
Montreal actress calls Weinstein ruling 'discouraging' but not surprising
A Montreal actress, who has previously detailed incidents she had with disgraced Hollywood producer Harvey Weinstein, says a New York Court of Appeals decision overturning his 2020 rape conviction is 'discouraging' but not surprising.
Charlie Woods, son of Tiger, shoots 81 in U.S. Open qualifier
Charlie Woods failed to advance in a U.S. Open local qualifying event Thursday, shooting a 9-over 81 at Legacy Golf & Tennis Club.
RCMP officers had no legal authority to enter man's home, make arrest: B.C. court
A B.C. man has been found not guilty of assaulting two RCMP officers – with the court finding he was resisting an "unlawful entry and arrest" in his home before he was tasered, taken down and hauled away in handcuffs.