Why are the prices of coffee and oats rising faster than those of oil?

게시됨 2021년 12월 23일

Tridge 요약

World food prices have seen a significant increase, with coffee and oats experiencing the highest surge of 81% and 87% respectively on December 22. This price hike is due to severe weather conditions and supply chain issues impacting the production of these crops. The drought and frost in Brazil have devastated coffee crops, while moisture in the western United States has affected oat crops, leading to a decrease in supply and a subsequent increase in prices. Factors such as energy costs and supply chain disruptions have also contributed to the rise in prices. Consumers are expected to feel the impact of these price increases in the near future.

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원본 콘텐츠

World food prices have risen sharply during the year. Among the fastest growing prices are those of coffee and oats. Futures rose 81% and 87% on December 22, respectively, according to Finviz. They are even ahead of oil and natural gas, whose markets are still recovering from Covid-19 restrictions. According to experts, agricultural products usually do not have such a large price movement in such a short time. Coffee and oats are different types of crops. Coffee is grown in areas with tropical climates, and the cereal plant requires a different climate for its cultivation, but the production of both crops has been hampered by severe weather conditions over the past year. This is the reason for the big rise in prices. The jump in coffee prices is due to the unprecedented drought followed by severe frosts in Brazil, where a third of all coffee produced worldwide. The harvest was crippled by about 40 percent year-on-year in September for Arabica, the world's most-consumed coffee, ...

출처: Money