as if there isn’t enough rain coming.
NEW YORK (CNNMoney) — More bad news for coffee drinkers. First it was Starbucks and grocery store brands. Now, even single-serve packets are getting more expensive.
Keurig Green Mountain said Thursday it plans to hike prices by 9% for the K-Cup packets used in its signature brewing system, as well as bulk coffee and other products beginning in November.
It’s the latest in a string of price hikes this year as coffee producers pass along higher costs. Coffee prices have soared 58% over the past 12 months, after a drought in Brazil dried up this year’s harvest of Arabica beans, the most popular bean in coffee production.
Starbucks said in June that prices would go up between 5 and 20 cents on average, depending on the order and where the purchase is made. J.M. Smucker also hiked prices by 9% for Folgers and Dunkin’ Donuts coffee that it makes for…
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starbucks corporation is a us-based international coffee-supplier company and coffeehouse chain, headquartered at seattle in washington. starbucks is also the world’s largest coffee-making company with 20,891 stores spanning 64 countries. among them, 13,279 stores are placed in the usa, 1,324 stores in canada, 806 stores in the uk, 989 stores in japan and 851 stores in china. there used to be plenty of starbucks in australia, but they shut em all down cos of the gfc. starbucks coffee-houses serve diverse types of coffee, such as, hot, cold, bean, micro-crushed, instant beverages, etc. i personally developed a desire for starbucks beverages when champagne socialism was rife during the 2000s, kind of a rebellion against the rebellion sort of thing. my enjoyment of coffee in these coffeehouses flourished further with travel, as the promise of free wifi and a reliable brew drew me in, in several different languages, and made me warm.
turning back to the rich history of starbucks corporation, this company was jointly established by jerry baldwin, zev siegl, and gordon bowker on 30th march in 1971 at seattle. after facing some financial losses in 1980s the original owners sold this company to howard schultz in 1987, who contributed a lot for the world-wide expansion of starbucks corporation.
the first established stores outside seattle were in vancouver and chicago, and soon after all over the usa. by 1989, around 46 stores were placed throughout the northwest and midwest states within the usa. starbucks reached california by 1991. with 140 outlets, starbucks made ground breaking revenue of us$73.5 million in 1992, reaching a us$271 million company-value. afterwards, starbucks took on the world, and In 2003 acquired torrefazione italia for $72m, then in 2007 they also bought clover brewing system. oft criticised by anti-corporate coffee-ists, i’m not ashamed to indulge from time to time!