Drought Could Push Coffee Prices Up

CACONDE, Brazil (AP) — Brazilian coffee farmers are grappling with above-average temperatures as the country, the world’s largest coffee producer, faces its worst drought in more than seven decades. Vietnam, the second-largest coffee producer, is also experiencing heat and drought, affecting its coffee crops. As a result, potential supply shortages in both countries have driven up global coffee prices. Prices prices haven’t reached the record highs the world saw in the late 1970s, after a severe frost wiped out 70% of Brazil’s coffee plants. But they have been soaring in recent years.