Annotated Bibliography
This isn’t very good as it was my first time doing one
Annotated Bibliography
Source:
Hur, Krystal. “Business News: Coffee Jolt Gets Pricier as Costs Increase — Suppliers and Cafes are Responding to Poor Harvests in Major Coffee-Growing Regions.” Wall Street Journal. Eastern Edition, Eastern edition,2021
Summary:
In the article by Krystal Hur, from the Wall Street Journal. She explains how many coffee companies are raising their prices to about $1.43 per pound as of August 2021. “In addition to coffee, Americans are paying more for many things — including hotel stays, other groceries, and gasoline — as the economy rebounds from Covid-19’s impact over the past year” (Hur paragraph 7) A lot of coffee roasters and cafe operators are responding to poor harvest and major coffee growing regions such as Brazil (the world’s biggest coffee producer) is expected to reduce next year’s crop due to a cold snap. Due to too many poor harvests, a lot of companies are raising their prices which in turn raises the prices of the people who use the coffee beans to sell their coffee. Nestle, which produces Nescafe instant coffee as well as Starbucks-branded packaged coffee, said that while it has hedged coffee costs, it may raise prices as supply-chain costs are set to have a bigger impact in the second half of the year. NuZee Inc., a specialty coffee company that focuses on co-packing single-serve coffee, said it has enough coffee to last until the next quarter but expects to pay higher prices once that inventory runs out. (Hur paragraph 5)
Evaluation/ Reflection:
I found this article by looking up coffee Supply chains on the New Paltz library website as I was looking through the Articles this one popped out to me. Once I read the description of it and when I started reading the article it was very informative as to why the price of coffee beans are increasing. It was very interesting to learn that coffee harvests are going down due to the fact; I’ve never really looked into this before and it’s just never told in mass media. The price of coffee has increased a fair amount due to a lot of coffee harvest going downhill as well as covid just drastically increasing the inflation of everything In the future, if you ever want to start a cafe business that sells coffee you need to start buying the coffee now essentially or better hope that the price deflates by the time you get to start your business.
Source:
Jon Emont. “Covid-19 Lockdowns in Asia Deepen Commodity Supply-Chain Pain; Palm-Oil Plantations and Coffee Farms Struggle with Labor Shortages and Transportation Curbs as Cases Surge.” The Wall Street Journal. Eastern Edition, 2021.
Summary:
“Covid-19 travel restrictions in Asia are also hitting coffee. Beginning in July, an outbreak in Vietnam prompted the government to introduce curbs on movement that have interfered with shipments. Vietnam is the world’s largest exporter of the bitter-tasting robusta beans used in instant coffee and espresso blends.” Emont paragraph 15. Due to the covid-19 pandemic, a lot of people and businesses are being hit hard in this case the coffee business, as well as the palm oil business, are being hit very hard by workers being let go and the economy is in shambles. Especially in the Asian countries of Vietnam in Malaysia.
Evaluation/ Reflection:
Covid 19 affected many businesses and in doing so basically crashed the world economy to an extent and caused a lot of inflation worldwide. Eventually maybe in a few more years, the economy will stabilize a bit more worldwide, And hopefully probably with fewer natural disasters will be able to have more coffee circulating in the system again.