Coffee Service

Coffee prices expected to rise

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December 28, 2020

Coffee prices took a hit in June due to COVID-19, but prices have since been rising and could surge in 2021, according to a Forbes report.

Coffee prices will rise when COVID-19 passes, but the key factor will be weather, in Brazil and Vietnam and Brazil, both of which weather issues. The former has experienced excessive rain, the latter not enough.

Coffee prices began the year low trading at $1.2 per pound, compared to December 2019, according to Seeking Alpha, when the highest recorded price was $1.3 per pound. Coffee futures fell more in February, but began a bullish turn in March.