Business

Here’s why coffee costs are rising in Charlotte



Since the start of the COVID-19 pandemic, coffee prices have skyrocketed. That means your cup of Joe has gotten more expensive.

In February, the price of coffee reached a record-high of $2.52 per pound, more than double what it was two years prior, as reported by Business Insider. The current price now sits at $2.32 per pound.

Here’s why the price of coffee has gone up, and where to find deals in Charlotte.

Why has the price of coffee gone up?

Factors like weather, transportation issues and increasing demand can limit the supply of coffee, which usually results in price increases financial analyst Payel Bera wrote for Capital.com, a global investment trading platform.

Dry weather in Brazil, the world’s biggest coffee producer, led to a reduction in 2022 coffee crop estimates, from 55.74 million to 53.43 million 60-kilogram bags of beans, Bera said. The estimate represents a 15.3% decrease from the crops produced in 2020.

Supply chain constraints caused by the COVID-19 pandemic and record-high inflation rates in the U.S. also contributed to higher coffee prices, according to Bera. High inflation means farmers get paid less, which affects their profit margins and pushes them to raise prices.

Restaurant closures during the pandemic also coincided with an increase in global demand for coffee, Bera explained, adding that coffee consumption in China and Japan has risen significantly since 2020. However, Russia is predicted to reduce its coffee consumption due to trading hurdles brought on by its invasion of Ukraine.

Where to find coffee deals in Charlotte

This week, Harris Teeter and Food Lion have deals on a few popular store-bought coffee brands like Starbucks and Folgers. These deals are valid until June 28:

Harris Teeter

  • Starbucks coffee (12-ounce bags): $7.99

  • Folgers K-cups (12-count): $6.49

  • Private Selection Signature Blend (48-count): $18.99

  • Folgers coffee (10-ounce bags): Buy one, get one free

  • Simple Truth cold brew (32-ounce): Buy one, get one free

Food Lion

  • Dunkin’ or Folgers K-cups (10-count): $7.99

  • McCafe or Krispy Kreme K-cups (12-count): $6.49

  • Food Lion coffee single serve cups (36-count): $14.99





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