Coffee adapters around the world are preparing for a sharp and unprecedented price increase for this beverage. It is expected that the price of coffee beans will progressively rise due to drought, caused by climate change in Brazil, the largest producer and exporter of this commodity in the world. Hundreds of farmers in Brazil have suffered from a massive fire, the strongest in history, which started in Caconde, a place known for having the largest coffee production in the state of São Paulo (southeast).
Although the fire, most likely, started from a rubbish heap, set ablaze by one of the residents, its destructive and uncontrolled spread mainly engulfed the extreme drought that affected Brazil last year. With rising temperatures and lack of rainfall, recorded periodically in areas like Caconde, the aftermath is reflected on a global scale, and flames have scorched five hectares of farms.
Brazil controls over a third of coffee production in the world, hence the suffering of Brazilian farmers strongly influences prices. The price of arabica, the most popular coffee type, surged by 90% in 2024 and hit a record, surpassing its previous peak set on December 10, 1977, on the New York Stock Exchange, reaching a mark of $3.48 per pound.
Brazilian coffee consultant, Gi Carvalho, states, "I have worked in this industry for over 35 years, but I've never faced such a challenging situation." In Tokyo, Paris, New York, and other cities around the world, a progressive increase in coffee prices is expected due to drought, caused by climate change in Brazil, the largest producer and exporter of this commodity in the world.