Coffee prices are set to increase due to a 70% jump in Arabica coffee bean prices, the highest since 1977, attributed to climate change-induced weather events like droughts in major coffee-growing regions like Brazil and Vietnam. The rising costs will impact consumers, roasters, and distributors, with prices expected to rise by 50 cents to $1, as companies like World of Coffee Inc. are forced to absorb some of the cost while anticipating a shortage in supply. Climate change-related impacts on other crops, such as oranges and beef, are also expected to drive prices up in the future.
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