The Oklahoman

Why you may end up paying more for coffee

As several factors drive up bean prices, costs may filter down to cafes, stores

- Matt Ott

“We’ve never been dealing with a supply and demand issue on top of a logistics issue, on top of labor issues, on top of a global pandemic.” Alexis Rubinstein Managing editor of Coffee & Cocoa for commoditie­s brokerage StoneX Group

SILVER SPRING, Md. – As if a cup of coffee wasn’t expensive enough, a confluence of factors is driving up farmers’ costs to grow the beans and it could begin filtering down to your local cafe before the end of the year.

After hovering for years near $1 per pound, coffee futures – the price largevolum­e buyers agree to pay for coffee 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

 ?? JULIO CORTEZ/AP ?? Chris Vigilante makes a dripped coffee for a customer at one of his coffee shops in College Park, Md. A sustained drought followed by two July frosts blew a hole in Brazil’s coffee output, sending futures contract prices for the popular Arabica bean to near seven-year highs.
JULIO CORTEZ/AP Chris Vigilante makes a dripped coffee for a customer at one of his coffee shops in College Park, Md. A sustained drought followed by two July frosts blew a hole in Brazil’s coffee output, sending futures contract prices for the popular Arabica bean to near seven-year highs.

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