A Premium Coffee Shortfall Is Getting Worse, Lifting Latte Costs
- Heavy rains could affect 15% of crops in major grower Colombia
- Coffee among most strained markets amid rising food inflation
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The market for higher-end coffee just can’t catch a break.
The world was already set for a shortfall of the arabica beans used in espressos and lattes this year because of a drought in Brazil, the biggest producer. Then shipping snags started wreaking havoc on supplies. Now, torrential rains are threatening crops in Colombia, the second-biggest grower. It all points to increased costs for coffee sellers including Starbucks Corp.