A critical international coffee shortage, in which demand is steadily outpacing supply, according to the London-based International Coffee Organization.
Since June, the wholesale price for a pound of coffee has jumped to $1.80—a 12-year high, reports InvestorPlace.
Green Mountain Coffee, which sells mainstream, organic and Fair Trade blends, will raise some prices by 10% to 15%, according to Business Week. For now, Starbucks hasn’t raised its prices, but chains like Dunkin’ Donuts and mainstream brands like Folgers, Maxwell House and Yuban have upped prices by approximately 10%.
The Wall Street Journal’s take: Maybe it’s time to start hoarding coffee.