Just came across this story: Kraft's Maxwell House Cuts Coffee Price.
Now, I could care less about Maxwell House coffee. Their old slogan used to be "good to the last drop" and on behalf of coffee snobs everywhere (such as myself), I think it's too bad that they haven't reached that "last drop" yet.
But cheap coffee seems to be in the business news. Here's another story about the "Mountain Grown" alternative: P&G Cuts Folgers Coffee Price as Beans Get Cheaper.
I can see the next headline already: "Yuban Prices Spike, Spokesman Says They Can Actually Afford Beans Now!"
Prices were apparently high in March, but they're lower now. The article on the mountain-grown mud that rhymes with "bolgers" notes:
Since peaking at $1.4425 per lb on March 11, NYBOT's benchmark arabica contract for September delivery fell to an 8-month low of 96.15 cents per lb on July 19. The contract is now trading around $1.0180 a lb.
This means that beans are about 30% cheaper now than they were. I wonder if this carries over to premium purveyors of caffienated goodness? I wonder if the local coffee shops will notice the difference?
Side note: I live in the Pacific Northwest (Bellingham, WA). It takes me anywhere from 5-10 minutes to drive from my house to the office, depending on the traffic lights. On my route, I pass at least seven (yes seven, just counted 'em in my head) coffee shops. That doesn't count gas stations or fast-food establishments. And there are far more just off that beaten path. Offhand, I'd guess there are at least 5 coffee shops within easy walking distance from the office. In short: coffee is huge here. Lower-priced premium coffee would be awesome. Hopefully the decrease in commodity price sticks and the competition (which is pretty tight here) drives the price down a bit.