Arabica Beans at 13-Year Price Low
CBJ — The price of Arabica beans have hit a low not seen since 2006, which means many farmers are having a difficult time making a profit.
However, it certainly hasn’t translated into cheaper coffee for public consumers, who pay more for coffee now than ever before.
The price of a pound of Arabica coffee has dipped below $1 US this year on the world’s biggest commodities exchange in New York. That’s about half of what it was as recently as 2016.
The reasons are complex, but most of the issues stem from what is happening in Brazil, the world’s largest producer of coffee beans. Brazil’s coffee farmers produced almost 70 million bags of coffee last year — nearly 40% of the world’s supply.