Summary List Placement
When it rains, it pours, and when there’s a drought, prices go up.
In this case, the drought is in Brazil and it has the US running low on coffee. That means your morning cup of joe is about to get more expensive.
The drought has decreased crop production just as congested shipping ports have caused US coffee stockpiles to hit the lowest they’ve been in six years, Bloomberg reported. So far, roasters have been relying on their inventories instead of hiking prices, but that will only last so long and wholesale prices have climbed.
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