Coffee Prices Surge During Pandemic

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The coronavirus outbreak forced coffee prices to spike in April, with coffee futures estimated to rise 15% in May. Though prices are high, coffee farmers internationally are suffering. The COVID-19 lockdown in Colombia is disrupting coffee exports, the lockdown in Brazil is causing container shortages and a locust invasion in East Africa is hurting harvests. Despite rising prices, consumers are still purchasing coffee. CNBC analysts suggest the price increase could be short lived, as coffee shops reopen again and the public begins consuming stockpiled coffee supplies.

Read more (Food Dive)