The world's biggest producer of coffee, Brazil, has been hit with one of the nation's worst droughts in nearly a century, according to the Wall Street Journal.
Prices of some varieties of beans have spiked more than 30% in just the past three months, reaching their highest levels in a handful of years.
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The historic drought in the Amazonian region has forced farmers to ready for one of their worst harvests in almost two decades, according to the U.S. Department of Agriculture.
Contributing factors in other major coffee-producing nations, such as anti-government actions in Columbia and pandemic-related shipping costs in Vietnam, have made a costly trip from plantation to store even more costly.
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The third factor, is nothing other than a rise in consumer demand worldwide. An increase in the number of coffee shops and cafes that are now back open have fueled added consumption levels.