Shortage

Due to a combination of increased global demand and poor harvests, coffee prices in 2011 rose some 69% to reach its highest price in over three decades. As a result, consumers around the world saw an increase in coffee prices in the grocery store and coffee shops. One country that did not see an increase in price, however, was Cuba. This is because the country fixes the price of coffee at 17 cents per 4oz bag, and rations the amount of coffee each household consumes. Once a major coffee exporter, a decline in production led the Cuban government to turn to global markets to supply its population with coffee. The rising prices resulted in the country importing $50 million worth of coffee.