It's raining here in New Jersey today. Obviously, global warming is to blame. Later this year it'll warm up: Global warming, no doubt. Unions throwing an extended temper tantrum in Wisconsin? Global warming, silly.
And now, put down your coffee and brace yourselves. Your thirst for caffeine will now suffer from, you guessed it, global warming.
Profits of high-end coffee chains like Starbucks and Green Mountain have been eroded. Coffee futures of Arabica, the high-end bean that comes predominantly from Latin America, have risen more than 85 percent since last June, to $2.95 a pound, partly over concerns about supply, extreme weather and future quality, said George Kopp, an analyst at the International Futures Group in Chicago.
Yet as stockpiles of some of the best coffee beans shrink, global demand is soaring as the rising middle classes of emerging economies like Brazil, India and China develop the coffee habit.
“Coffee production is under threat from global warming, and the outlook for Arabica in particular is not good,” said Peter Baker, a coffee specialist with CABI, a research group in Britain that focuses on agriculture and the environment, noting that climate changes, including heavy rains and droughts, have harmed crops across many parts of Central and South America.
A top coffee scientist, he has rattled trade forums by warning, Cassandra-like, of the possibility of “peak coffee,” meaning that, like oil supplies, coffee supplies might be headed for an inexorable decline unless growers make more concerted efforts to expand production globally.