As fall season sets in motion this month, the cost of coffee, the admired drink of the people all over the globe has smashed into a 13-year high. The coffee shops and local grocery stores are starting to sense the heat also for this popular food and beverage product.
“Prices have fluctuated several times since I opened my shop in 1995, but this recent rise in prices is a big jump and will cause some of my basic coffee to cost double”, said Dan Lewis, owner of Sullivan Taylor Coffee House, 119 S. Randolph St.
Lewis stated that long ago when Illinois applied a considerable minimum wage raise, was the only other time he had to increase the prices. The latest increase in minimum wage, together with higher coffee prices, has triggered a 12-ounce cup of coffee to go up from $1 to $1.25. (Which could be a serious dent over time to people’s drink holder.) He also added that some of his regulars seemed to expect it, while some others are “taking it in stride”. It’s still an affordable luxury for your cup holder and people who relish coffee are going to clutch it despite its cost.
Lewis said that as coffee is the most traded product on Wall Street, next to oil, most of the upsurge is derived more from “notion” than demand and supply, in contemplation of chilly weather and famine conditions damaging crops in Columbia and Brazil. Though he purchases coffee from various supplies, the price rise is all across the board, he said.
Lindsay Luecht, manager of Cafe Aroma, 301 W. University Dr., said that Cafe Aroma buys organic coffee by “direct trades” via Alliance World Coffees and their rates echoes those paradigms. Through direct trades, the traditional middleman buyers and sellers and the organizations that control “Fair Trade” certification are eliminated thus bringing about a considerable cost reduction.
“Our roaster sent a notice lately stating that costs may go up, so we will wait and watch what turns up. We need to remain spirited and carry on as an establishment, but at the same time we need to think about both sides involved, the consumers who drink our coffee and the people who cultivate it,” said Luecht.
Lewis said he does not anticipate a downward plunge in coffee costs immediately but expects coffee suppliers will continue makings suitable regulations, similar to the market for wheelchair accessories.