Skip to main content

Posts

Showing posts from August 25, 2010

Crop failures to push wholesale coffee prices to 13-year high

By Matt McClure Calgary Herald August 25, 2010 Wake up and smell this coffee. Your morning brew may soon cost more. An expected crop failure in Colombia and speculation in commodities markets have pushed coffee futures to a 13-year high. While specialty retailers like Tim Hortons and Starbucks are holding the line for now, small independent cafes may have little choice but to hike prices. Starting Sept. 1, Calgary's Fratello Coffee Roasters is increasing the price it charges 200 independent cafes around southern Alberta for beans by up to seven per cent -- a hike the firm's owner believes is here to stay and one he expects will be passed on to customers. "We're seeing rising consumption worldwide in countries like Brazil and India, along with bad harvests for the third year in a row in Colombia, one of the world's largest suppliers of Arabica beans," said Fratello owner Russ Prefontaine. "It's a perfect storm of increased demand and red...