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Coffee prices rise to highest level in four years

Cup of coffee
Posted at 11:16 AM, Aug 30, 2021

Coffee prices are the highest they've ever been in four years.

According to CNN and Reuters, the futures for robusta coffee, which is used to make espresso, rose to $2,024 per tonne, the highest it has been in four years.

Bloomberg and CNN reported that the drive behind the price hike analysts say is due to the weather in Brazil and COVID-19 restrictions in Vietnam.

In Brazil, the country was hit with a drought then pummeled by two touches of frost in less than a month, which caused harm to the coffee trees.

In Vietnam, the country's COVID-related lockdowns are curbing export flows out of the country