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Underpaid pickers don’t show up, and coffee cherries rot on the ground, wasting the harvest. Some harvests last for six months instead of the standard two, and some are shockingly short. Or harvests are compressed into a two-week period, and the coffee mills can’t handle the tsunami of cherries waiting to be processed.
Since the beginning of the year, the harvest price of major crops traded on the Chicago Mercantile Exchange and the Intercontinental Exchange have fallen by an average of 21% while total production costs remain near record levels. Estimated 2024 net farm income for U.S. agriculture is projected to be down $55.61
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