Coffee bean prices move higher on shipping jams, Brazil frost

Beans
This winter season, inflation is on the menu. Restaurants like Din Tai Fung and McDonald”s have recently raised prices by up to 4%. Even the cost of coffee is on the rise. The global price of raw coffee beans has shot up around 25% this year, due to shipping congestion, frost damage in Brazil, and a sharp decline in output in Colombia.

With a masterful pour, an intricate likeness of Pegasus emerges in the cup.

And just like the mythical horse, the price of coffee beans is soaring.

Chen Hao-yuan
Barista champion
If it rises beyond 40%, the operating costs for coffee shop owners will become staggering.

Businesses say they may no longer be able to absorb the rising cost. Prices for raw coffee beans are already up 22% to 25%. Due to a confluence of factors like reduced production, frost in Brazil, and shipping congestion, there’s now far more demand than supply. Global commodity prices have had a choppy several months and are only continuing to rise.

Wu I-ling
Taiwan Coffee Association vice chair
Every single day the price goes up. Could the increase reach 100%? Say, go from US$2 to US$4? It’s possible.

To save cash on their daily habit, locals came out to a coffee trade show on Friday to find deals. But vendors warned that coffee has a short shelf life. Stockpiling beans could be hazardous to your health.

Wu I-ling
Taiwan Coffee Association vice chair
Actually it’s still advised that people buy it fresh. This is because in conditions of high humidity, aflatoxins and ochratoxins can occur in coffee beans.

Coffee isn’t the only thing that costs more these days. Prices are up by 2% to 4% at chain restaurants like Din Tai Fung, McDonald”s, Yoshinoya, and Subway.

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