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Coffee prices nearly double in a year, with no drop in demand in sight

Friday, June 24, 2011


Coffee prices — from generic to specialty brews — have been ticking upward for over a year with no end in sight. The price of a pound of raw coffee beans has almost doubled in 12 months. Now consumers are cutting back, roasters are struggling and retailers are scrambling to cover costs.

Price increases are the result of higher demand worldwide. Coffee imports have increased by 23 percent over the last decade, according to data from the International Coffee Organization.

Original source: Christian Science Monitor