Get ready to start paying more for coffee. According to The Wall Street Journal, increased demand for high-quality coffee combined with some poor harvests has meant that coffee prices are skyrocketing. The price of Arabica coffee, for example, has increased 48 per cent in the last six months alone. It’s a trend that’s almost certain to affect prices at coffee shops in Toronto and elsewhere.
Sam James, owner of Sam James Coffee Bar on Harbord Street, says he’s known for some time that he’ll soon have to increase the price of his coffee. “My roaster has informed me of the heightened prices of coffee and the eventual rise in cost that I’ll incur,” he says. “Not all roasters are passing the increase on to their customers yet, so there’s going to be a visible difference between shops until it catches up across the board.”
James estimates that costs per cup in Toronto will likely increase 10 to 25 cents in the near future. And if New York City is a sign of things to come, then he’s probably bang on: at NYC’s Joe the Art of Coffee, apologies have been posted up for an impending price increase of 10 to 20 cents per cup.
Still, James thinks coffee is quite a bargain these days anyway, considering the labour involved. “It’s hand picked and sorted, processed, roasted and brewed manually,” he says. “It’s a considerable steal when compared to other specialty items like chocolate, wine or truffles.”
Apparently, not for much longer.