The Biden regime continues to destroy the already struggling U.S. economy.
And it seems every day there is more bad news about rising prices.
Now Joe Biden’s economy just caused the price of yet another grocery staple to surging to a record high.
The price of breakfast in America is going up thanks in large part to Joe Biden’s economic disaster.
A cup of Joe just got more expensive
Coffee is a staple for many Americans, especially as part of their daily morning routine.
But now, the price of coffee is skyrocketing.
President Joe Biden and his fellow Democrats’ failed economic policies have already sent the price of virtually every other consumer product skyrocketing amidst the ongoing inflation crisis.
And to add to his failed policies, there are now other issues causing an increased burden to fall on all Americans.
Now, coffee prices continue to rise and most expect it to continue as supply chain problems, hoarding, and contract defaults are devastating the coffee industry worldwide.
These issues, along with Biden’s inflationary policies, are causing coffee prices to soar.
This means the cost of breakfast, already at its highest point since 1979, is going up even more.
And experts now say those higher prices won’t be dropping any time soon, if they ever actually do.
It’s too hot
In early April, the cost of robusta coffee beans soared more than 30%.
And they are now up more than 50% as a heat wave has hit Vietnam, one of the world’s top coffee-producing regions.
The price jump for robusta beans has also put pressure on arabica coffee, causing its futures to rise as well.
It has now surpassed the $2 per pound mark for the first time since last December.
“Weather conditions are not encouraging,” representatives of London-based importer DRWakefield said. “There are still concerns over a possible water shortage for irrigation, which may hurt the output of the next season.”
According to Nespresso, about 40% of the world’s coffee supply is made up of robusta beans, while arabica beans make up around 60%.
Analysts also say that at least part of the increase in these two coffee beans’ prices is due to buyers who are now panic buying out of fear that crops will dry up.
“We can’t tell when prices will peak,” said Tran Thi Lan Anh, deputy director of Vietnamese export company Vinh Hiep Co.
“We don’t have water for our farms,” said Vietnamese coffee bean farmer Nguyen The Hue. “If the drought persists, we won’t have lots of new beans to sell in the new season.”
This is bringing even more bad news to the Biden regime as Joe Biden’s Presidency continues to be a total disaster for the nation.
US Political Daily will keep you updated on any developments to this ongoing story.
