Coffee went up to $16.99-18.99 per 3lb can!

Discussion in 'General Preparedness Discussion' started by lhalfcent, May 3, 2011.

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  1. lhalfcent

    lhalfcent Supporting Member

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    went to the store yesterday to take advantage of a local sale on some things.
    Was walking thru the isle with the coffee's and holy Cow!
    Maxwell house 3lb cans were $18.99 up from just $10.99 last week!!!
    Folgers was at $16.99 also 3lb cans.
    The other brands or these brands for the small 1lb size cans were all between $6.00 -8.00 each.
    oh my goodness. I am still hyperventilating. that is just so outrageous! :eek:
     
  2. LincTex

    LincTex Jack of all trades?

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    It is going to get so much worse.......

    New London County Food Policy Council - Other News - Food Commodities Rise Seen Swamping Consumers With Inflation

    Food Commodities Rise Seen Swamping Consumers With Inflation
    Sunday, April 10, 2011 at 9:21PM

    Coffee, sugar and cocoa prices will rise five- to 10-fold by 2014 because of shortages that will mean consumers getting “swamped” by food-price inflation, according to Superfund Financial.

    A lack of farmland and rising costs means growers will fail to keep up with demand, said Aaron Smith, managing director of Superfund Financial (Hong Kong) Ltd. and Superfund USA Inc. Commodities account for about 40 percent of Superfund’s $1.25 billion assets under management. Smith correctly predicted record copper prices in November and a month later rightly anticipated that silver would outperform gold.

    A United Nations index of world food prices jumped to a record last month, contributing to riots across northern Africa and the Middle East that already toppled leaders in Egypt and Tunisia. Global food security is threatened by “excessive price volatility and speculation,” farm ministers from 48 countries said in a joint statement after meeting in Berlin in January.

    “There’s a tremendous shortage of food, there’s a tremendous shortage of arable land,” Smith said in interview in London. “Any kind of food products are going to increase.”

    Coffee jumped more than fivefold in the two years through July 1994 and more than tripled from February 2002 to March 2005. Sugar prices rose fourfold from June 2002 to February 2006 and more than tripled from June 2007 to February last year. Cocoa advanced 242 percent from December 2000 to January 2003.

    Price Gains
    Arabica coffee traded on ICE Futures U.S. in New York almost doubled in the past year and traded at $2.663 a pound at 7:33 a.m. local time. Raw-sugar futures advanced 51 percent to 27.03 cents a pound, while cocoa is little changed at $2,960 a metric ton.

    Coffee prices jumped after wet weather damaged crops in Colombia and on forecasts for a smaller harvest in Brazil, the world’s largest exporter. Sugar gained after floods in Pakistan and Australia and cocoa advanced as fighting after elections in November disrupted exports from Ivory Coast, the largest grower.

    Superfund, founded in Vienna in 1995, specializes in so- called managed futures, using its own trading system to buy and sell commodities and currency futures, stocks and bonds. It has a 24-hour trading operation in Chicago, Smith said.

    The U.S. consumer price index rose 0.5 percent in February, the most since June 2009. Asian countries from China to Indonesia raised interest rates this year to curb inflation. European inflation quickened to 2.6 percent in March, the fastest since October 2008 and above the European Central Bank’s 2 percent limit.

    Bull Market
    The commodity bull market may last for 15 to 20 years, Smith said in July 2008. The Standard & Poor’s GSCI Index of 24 commodities, which that month dropped as much as 66 percent through February 2009, is still 20 percent below its 2008 peak.

    Wheat traded in Chicago is down 8.7 percent this year and sugar has dropped 16 percent. Global sugar production may exceed demand for the first time in four years if “normal weather conditions” return to the biggest growing nations, broker and researcher Jonathan Kingsman said last month.

    Access to water, higher labor costs and rising incomes are also issues for food commodities, Smith said.

    “There’s about 7 billion people in the world,” he said. “When you have that many people, it only takes tens of millions of people to move up a market that’s so small like sugar.”

    Rising Population
    World food production will have to increase by 70 percent by 2050 to meet increasing demand from an expanding global population, projected to rise to 9.1 billion by 2050 from 6.9 billion now, Hiroyuki Konuma, the UN Food and Agriculture Organization’s regional representative in Asia, said in an interview in Bangkok on March 9.

    Food costs are at “dangerous levels” after pushing 44 million people into poverty since June, World Bank President Robert Zoellick said last month. That adds to the more than 900 million people around the world who go hungry each day, he said.

    It’s “an incredibly difficult humanitarian story because the poorest countries will be hit the hardest,” Smith said. “The average person is going to be swamped by food inflation. The new arms race is food and energy.”

    An indirect way of betting on food prices is to buy gold, because it tends to do well when inflation accelerates, he said. Gold has gained the past 10 years and reached a record $1,447.82 an ounce last week, while silver is up 22 percent this year at $37.775 an ounce. Gold will climb to $2,000 and silver to $60 in three years, he said.

    “I think that gold, and to a lesser extent silver, will dramatically underperform soft commodities, but will at least have a high correlation to them,” Smith said. “When we see short-term rates in the U.S. at double digits then you can start to speculate that gold might be getting close to the end of its run.”

    To contact the reporter on this story: Nicholas Larkin in London at [email protected]

    To contact the editor responsible for this story: Claudia Carpenter at [email protected].
     

  3. lhalfcent

    lhalfcent Supporting Member

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    I was reading elsewhere that sugar prices are high because Brazil is using sugar cane for alternative fuel like the US is using corn. good grief ... burning food for fuel. sigh
     
  4. *Andi

    *Andi Supporting Member

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    Hang onto your hats folk this is going to a bumpy ride.
     
  5. slick

    slick Active Member

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    Yeah I know its crazy burn food for fuel, I cant use the language I would like to say what I think about it :gaah::gaah::gaah::gaah:.. Cya Slick
     
  6. Frugal_Farmers

    Frugal_Farmers Good ole country folk

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    Check Save-a-lot and ALDIs

    We got 34oz cans for $4.99 and now have 14 cans in the pantry. Get it while you can.
     
  7. lhalfcent

    lhalfcent Supporting Member

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    told hubby i was gonna hit Aldi's. Trying to get a fix on what items i can't grow or make that would make sense to stock up on...beyond TP. lol
    I am coffee snob so I really like my french roast. hehe
    :cool:
     
  8. rhrobert

    rhrobert Happy in the hills

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    DollarGeneral has Maxwell House WakeUp Blend for $6.00 a 3 lb can May 1-8
    They also have Clover Valley 3lb coffee for under $5.
    Grab it now if you need to, or stock up on your favorite green beans.
     
  9. Frugal_Farmers

    Frugal_Farmers Good ole country folk

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    Relax and have a nice cup of hot coffee;)
     
  10. Clarice

    Clarice Well-Known Member

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    I have a dozen large cans put back, but maybe I should get more. Found decaf marked down last week and got several cans of that for evening coffee. Also got instant coffee for barter also marked down. I can do without during the day, but really enjoy my 2 cups in the morning to get me going.
     
  11. Davo45

    Davo45 New here

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    Gotta love ALDIs. I usually swing by ALDIs every other week.

    As others have said though, prices will be increasing as the dollar decreases in value. If the dollar is ever replaced as the world's reserve currency we'll have hyper-inflation that will be unlike anything we've ever seen.
     
  12. Jason

    Jason I am a little teapot

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    Aldi's is great for canned goods. Their coffee is called Beaumont and it's not all that great. If it saves a lot of money, though, it's definately worth it. I haven't bought coffee in a while but I'm going to need some this weekend. Gotta shop around.
     
  13. slick

    slick Active Member

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    I picked it up tonight at walmart for $750 for a little over 2lb maxwell house, I may buy more if that price may go up, I make the coffee at work.. Cya Slick
     
  14. The_Blob

    The_Blob performing monkey

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    There are three different varieties of coffee to choose from at Aldi's. There is the plain Beaumont brand, a second variety of "German Roasted Coffee" in vacuum sealed bricks, and finally the premium line of Jamaican Mountain Blend and Kona Blend coffees. Although I'm not particularly a coffee drinker except on cold mornings and far from a coffee snob, to me there's nothing worse than a cup of coffee that tastes like burnt sawdust in the morning. For fear of bringing home a bag of worthless disgusting coffee, I decided to go with the most expensive variety.

    One wouldn't expect to find a bag of Kona or Blue Mountain coffee for $3.79. In all reality, these coffees aren't Kona or Blue Mountain. Both of them are "blends" which means that as little as 15% of the coffee must be the stated variety. Also, you'll notice that the Jamaican coffee is "Mountain" rather than "Blue Mountain" blend. That's because "Blue Mountain" is a regulated label, and in all likelihood, none of this coffee came from the Blue Mountain region.

    Correction - the whole bean version of this coffee does say "Blue Mountain" so maybe they did put the real deal in there. (Why wouldn't they say that on the package? :dunno: )

    However, I really don't care what percentage of the coffee was grown in Hawaii or Jamaica, it all unfortunately has to travel way too far IMO. All I care about is that the coffee tastes good, and I suspected that Aldi would put forth a decent coffee blend to fill their premium line. I was right. I've been drinking the Jamaican Blend for about a week now, and I am pleasantly surprised at how good it is. The mental benchmark that I used for this coffee is Kroger's Private Selection varieties, which cost about $5 more, pound for pound. In my opinion, the Beaumont Jamaican Blend is every bit as good as the Private Selection coffees, and the price is much better. If you want gourmet quality tho, you'll have to buy gourmet products... it's almost impossible to match the quality of a product that costs up to 4x as much.

    As a side note, this coffee comes in 12oz bags rather than 1lb bags. This is great for me, because I only drink it ocassionally, and a 1lb usually gets given away before it goes stale just so it's not wasted. However, you'll want to keep this in mind if you're comparing prices to 1lb bags.

    Bottom line: IMHO a great deal on an excellent everyday coffee.
     
  15. Jimmy24

    Jimmy24 Member

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    I also call it "damaged water" :gaah::gaah:

    Jimmy
     
  16. Clarice

    Clarice Well-Known Member

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    Check the price of coffee after work yesterday Folgers $11.99, last week it was $7.99.
     
  17. lhalfcent

    lhalfcent Supporting Member

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    found a local sale here where Folgers bold blend 3lb can is 8.99.
    otherwise everything is from 15.99 - 18.99
     
  18. 101airborne

    101airborne Well-Known Member

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    Hmmmm..... must be a regional/brand thing. I just bought 2 3# cans of store brand coffee at walmart yesterday for $6 a can. the store brand is made by the same company that makes maxwell house brand.
     
  19. Davo45

    Davo45 New here

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    Regional/Brand Issue

    You may be right. I just bought a 3# can of Maxwell House de-caf at Wal-Mart for $12.98, their brand of de-caf wasn't available in anything but 11oz. cans and it was $4.98. Last week it was $2.98. That's a 66% increase in a week. Their brand in the 3# cans was $8.99, just $1.00 less than the Maxwell house for regular.
     
  20. The_Blob

    The_Blob performing monkey

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    after reading this thread earlier I called up the local Dollar Tree to find out that their coffee comes in a 10oz bag, so that works out to $8 for 5 lbs

    I'm suuuuuuuuuure the quality is juuuuuust fine, really... :lolsmash: