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Coffee is at its cheapest in three years (but your latte isn’t)

AP Photo/Silvia Izquierdo
And you get a coffee, and you get a coffee. Everybody gets a coffee!
  • David Yanofsky
By David Yanofsky

Editor of code, visuals, and data

brazilPublished This article is more than 2 years old.

Coffee futures on IntercontinentalExchange, the commodities trading market, for arabica beans (not the cheaper, nastier robusta) traded below $1.30 per pound today for the first time since March 5, 2010. That continues a decline in prices since the April 29, 2011 high of $2.99 per pound.

This three-year low comes after heavy rains in Brazil’s growing regions failed to suppress the harvest as expected, and stockpiles of the bean remain high. The long-term decline in prices has prompted coffee makers J.M. Smucker and Kraft to lower the prices of their Maxwell House and Folgers brands. Starbucks has followed suit with its pre-packaged coffee, but hasn’t dropped prices for its over-the-counter beverages. So don’t go waving the graph above indignantly at your barista—there’s nothing he or she can do about it.

📬 Kick off each morning with coffee and the Daily Brief (BYO coffee).

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