Rise in bean prices could negatively affect Pittsburgh-area coffeehouses, consumers
PITTSBURGH (KDKA) -- Concern remains that increased tariffs on Colombia could mean an increase in the cost of coffee in the U.S.
In the Strip District, you'll find several places to grab a cup of coffee, and inside Caffe Mona, you'll see many people enjoying warm drinks.
"Different types of coffee drinks like lattes, cappuccinos," said Caffe Mona server, Betsa Ocando.
Now, the beans behind those caffeinated beverages hit a record high cost. According to Trading Economics Arabica, coffee futures set a record high for the closing price on Monday at around $3.45 per pound. This is all fueled by supply concerns and growing tensions overseas.
Monday's closing price spike shows trade uncertainties after President Trump posted on social media.
On Sunday, he claimed he would raise a 25% tariff against Colombia to 50% on all goods coming to America after one week. He made those tariff threats against Colombia for initially blocking the arrival of deported migrants from the U.S. on military planes.
While it didn't change the prices yet, KDKA-TV spoke to many about how much a price increase would impact Pittsburghers.
"It will definitely affect a lot of people," said Ocando.
Hundreds of people frequent Caffe Mona and Allegheny Coffee and Tea Exchange every day.
"Hopefully, it won't be too bad, but we just kind of have to see," Allegheny Coffee and Tea Exchange barista Mitchell Delong said.
The price of coffee beans increased significantly from March to now.
"We try to keep our prices regulated for that. We go down, we go up, depending on what it is," Delong said. "It's kind of scary because maybe this could be a precursor, you know? We get coffee from everywhere, all over the world. You know, this is Colombia, what's going to happen in a couple of months, a year from now?"
A tight coffee bean supply escalates the costs even more.
Brazil is the top coffee bean producer and has seen a lack of rainfall in key coffee bean areas. It's a potential pinch on the pocketbook, but customers may be willing to consume to get their morning brews.