Starbucks Drinkers Won’t Get Break as Colombia Supply Drops
This article is for subscribers only.
Colombia, the second-largest producer of mild arabica coffee bought by companies such as Starbucks Corp. and Nestle SA, said consumers will have to get used to higher prices because of rising demand and reduced supply.
Production next year will fall short of consumption, keeping the cost of arabica coffee in a range of $2 to $3 a pound for the next 12 months, according to Colombian National Coffee Growers Federation’s Chief Executive Officer Luis Munoz. Higher prices also reflect increased farming costs, he said.