The cost of your morning coffee is poised to hit historic highs due to a precarious global supply-demand balance and dwindling coffee bean inventories. Analyst Shawn Hackett predicts record coffee market prices in the upcoming crop cycle, with potential all-time highs influenced by severe weather conditions in major coffee-producing regions like Vietnam and Brazil. The current coffee price of $2.29 is expected to surpass the 1977 record of $3.11. As global consumption reaches unprecedented levels, the starting inventory for the 2023-24 season is at a two-decade low, making the market highly sensitive to further supply disruptions. Coffee lovers may need to adjust their budgets or consumption habits in response to these rising costs.
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