It has been difficult during the past months to tune into any financial media source without hearing talk of increased coffee prices. Influenced by bad weather in coffee producing countries, political unrest or the vagaries of the commodity market, our humble drink of choice has been put to the test. In fact, at the end of December, coffee prices closed at a 13-year high on Wall Street. We, at Roasters, have been watching the coffee scene carefully and monitoring our costs during the past year.
We have been slow to respond to price changes because what is expensive this month on the commodity market may be cheap next month. However, on the average, our prices have risen more than 15% during the past year. For the same beans, for every $1.00 we spent in January of 2010, we now spend $1.15.
Our choice has become clear. We can adjust our coffee prices, or we can buy cheaper beans. We have chosen not to sacrifice quality for a lower price. We hope you agree with this decision and continue to buy what we believe to be the best coffee available in this region.
Thanks for your support. DGH