Posted on 04/25/2011 5:09:06 PM PDT by Red in Blue PA
Coffee prices have topped $3 a pound for the first time in more than 34 years.
A drop in supplies of high-grade arabica coffee beans and a growing taste for upmarket coffee among the middle classes of China, Brazil, Indonesia and India are blamed for the sharp rise.
Continuing weakness in the dollar has also kept many commodity markets soaring and encouraged a buy-up of arabica beans.
New York's July arabica contract hit $3.025 a pound on Wednesday, the highest since 1977. According to the Guardian, coffee futures inched lower to $2.94 on Thursday.
Coffee prices have more than doubled in the past seven months. Supplies are running low because heavy rain led to worse than expected harvests in Colombia, the second-largest producer of arabica beans after Brazil and also in Indonesia, Mexico and Vietnam. Colombia's supplies dipped to their lowest level in 33 years.
(Excerpt) Read more at cbsnews.com ...
"If you're still drinkin' those 8oz cups of coffee, maybe you'd do well to buy a smaller cup. And inflate your tires, while you're at it", Obama said with a chuckle...
Check the prices on single malts lately? Ouch.
I make a simple sourdough, without a starter, in my bread machine all the time. Tastes great.
1/2 cup yogurt, plain nonfat
2/3 cup water
1 tablespoon lemon juice
2 tablespoon margarine or butter, softened
3 1/2 cups flour
1 tablespoon sugar
1 1/2 teaspoons salt
2 teaspoons regular active dry yeast or quick-acting yeast
I was thinking more of the New Orleans-style coffee with chicory; you can really stretch a pound of that stuff. It harkens back to the last civil war - why not use it for the impending one?
My wife makes a nice Irish Soda Bread, too... well worth a bit of research.
I’ll look it up, thankx. I love trying new recipes in my machine.
“A drop in supplies of high-grade arabica coffee beans and a growing taste for upmarket coffee among the middle classes of China, Brazil, Indonesia and India are blamed for the sharp rise.”
Yeah... and abc stated that gas prices are so high and going higher because china and the developing world were increasing their oil consumption... due to the... now get this... world wide economic recovery. Last I checked... most of these places were short on food and protests and riots are growing in many places.
“Continuing weakness in the dollar has also kept many commodity markets soaring and encouraged a buy-up of arabica beans.”
SPECULATORS AGAIN... must be those same evil RICH folks making over $250,000 a year and only have wealth because they stole it from someone else... that speculate on oil and cause our $5 and rising pain... that are driving up java prices too huh? /S
“Coffee prices have more than doubled in the past seven months. Supplies are running low because heavy rain led to worse than expected harvests in Colombia, the second-largest producer of arabica beans after Brazil and also in Indonesia, Mexico and Vietnam. Colombia’s supplies dipped to their lowest level in 33 years.”
Just like the Libyan conflict is driving up oil prices huh? /S
Just damn.
LLS
All the gold bugs misled us — we should have invested in Coffee.
The price for the new, smaller container was the same as it was for the larger container last week.
” most of these places were short on food and protests and riots are growing in many places.”
Last you checked these places were short on food and had riots growing in many places? When and where did you check? You really need to go check again.
I guess that you need to look at Africa and sub Africa pal.
LLS
Last I checked China, Brazil, India and Indonesia werent in or anywhere even close to Africa or sub Africa. (Btw its sub-Saharan Africa not sub-Africa)... pal!
LLS
Try again.....
Did you know that India just had a 235 million tonnes record surplus production of food in 2010-11?
http://www.hindu.com/2011/04/24/stories/2011042456831300.htm
And China is the worlds largest producer and consumer of food?
http://online.wsj.com/community/groups/oil-921/topics/sahitmuja-china-has-become-engine
Shortage != famine
Shortage != economic crisis
Shortage == higher price then normal
Shortage == higher profit margin for producers
Denial is not a river in Egypt.
LLS
Get back to me when you actually understand my post. I am done wasting time.
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