Coffee Market
Coffee is a commodity that is traded on the NY based Coffee, Sugar & Cocoa Exchange. The market has been making historic highs over the past few months due to weather related supply shortages in Brazil, the world's largest coffee producing nation. The market sets a baseline price for coffee and some coffees are then priced based on 'market price' plus an added differential.
The highest price previously recorded for coffee on the market was about $3.35 in 1977. We began to see that record broken several months ago, and that upward spike has continued unabated, with new records made almost daily. In this same year there were significant weather events in the world's two largest producers. Brazil (Arabica) and Vietnam (Robusta) make up about 60% of all coffee produced while about 35 other countries make up the remaining 40%.
While many coffees we buy are disconnected from the market price either through Direct Trade relationships and direct import arrangements, a rising market lifts the price of all coffee, regardless of quality tier.
This said, we must pass along costs as we experience them. As market conditions change, up or down in the future, we will adjust our pricing accordingly. Rest assured we will decrease our prices when conditions permit. We will continue to pursue and offer you the same top quality coffee as we always have, and roast them for you at the fairest prices feasible.