Coffee Doom! Drought in Brazil drives the price of coffee beans to a record high!

Brazil is the world’s biggest producer of coffee beans and it has experienced its worst droughts in decades. Photograph: Paulo Whitaker/Reuters
Coffee bean prices have hit their highest level in more than two years amid fears that droughts in Brazil could lead to a global shortage of coffee. The price of arabica beans – the most popular variety – has risen by 20% this week and hit $2.07 (£1.23) per lb on Thursday, the highest since February 2012. So far this year, the price of arabica beans, originally indigenous to Ethiopia and favoured by Starbucks, Costa Coffee and Caffè Nero, has risen by 70%.


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