|Published:||Nov 30, 2010 12:21 AM EST|
|Updated:||Nov 29, 2010 7:24 PM EST|
Coffee worldwide is going through a shortage of supply, and an increase in price.
Wholesale prices have risen at least 35 percent in recent months, and futures prices for next year have gone up even more: 44 percent. It all translates into higher prices for coffee beans.
"This is caused by bad weather for growing coffee in South and Central America, and low inventories of coffee in the U.S.," said Bob Grissinger, owner of Bennett's Fresh Roast in Ft. Myers. "In addition, the cartels that control coffee in Colombia and Vietnam, are tightening their grips on supply, so the price keeps going up."
Grissinger says he has resisted raising retail prices by more than 15 percent. "There is a limit to what people will pay. We just cannot charge them 6 or 7 dollars for a cup of coffee, at least not yet," he told WINK.
Coffee lovers like Rob Kasten appreciate that. "I drink at least 5 cups a day, and often I have the more expensive, roasted coffees. I think the prices would have to double or triple for me to cut back," Kasten said.
Grissinger says the upward price pressure will continue into 2011, and will affect the blended, ground coffees in the grocery stores, as well as the coffee sold by national franchise chains.
"This is going to be with us for a while. We anticipate higher prices for coffee at all levels in 2011," said Grissinger.
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