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September 28, 2021

Here's why a cup of joe could soon cost more

  • A confluence of factors is driving up farmers' costs to grow the beans and it could begin filtering down to your local cafe before the end of the year.
    • By MATT OTT
    AP Business Writer

    SILVER SPRING, Md. — As if a cup of coffee wasn't expensive enough, a confluence of factors is driving up farmers' costs to grow the beans and it could begin filtering down to your local cafe before the end of the year.

    After hovering for years near $1 per pound, coffee futures — the price large-volume buyers agree to pay for coffee upon delivery months down the road — doubled in late July, reaching heights not seen since 2014. Though prices have eased a bit, they remain elevated at about $1.90 per pound.


     
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