There’s big trouble brewing in the coffee world.
A worldwide coffee shortage is inevitable unless coffee production increases by an additional 40 million to 50 million bags in the next 10 years, according to Bloomberg. That’s more than the entire coffee crop of Brazil, the world’s largest coffee producer and exporter.
“Sooner or later, in months or years, we’ll have to make a bold decision about what to do,” said Andrea Illy, chairman and CEO of Italian coffee roaster Illycafe SpA, in an interview with Bloomberg. “We don’t know where this coffee will come from.”
The looming coffee shortage is the result of growing global demand, climate change and low coffee prices.
“Climate change is a real threat in Brazil, where farmers risk losing a quarter of their output unless they adapt,” The Independent said.
The premium Arabica coffee bean, which accounts for up to 59 percent of the coffee consumed in the world, is especially vulnerable to rising temperatures. Brazil is the largest producer of Arabica beans.
Many coffee growers are moving their farms to higher elevations to protect their crop from rising temperatures, Bloomberg said.
The looming shortage is exacerbated by dismal prices.
Coffee prices are so low right now that it’s not an attractive crop for farmers.
Check out “Coffee Drinkers, Prepare for Price Jolt.”
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