Coffee prices rising due to frost concern

Published: Jul. 29, 2021 at 5:27 AM CDT
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WICHITA, Kan. (KWCH) - Coffee prices are reaching a six-year high on concerns that a recent frost has hurt Brazil’s coffee belt. Last Tuesday, one city declared a state of calamity after several frosts reached the municipality’s coffee fields. There were reports that there’s damage to trees that may have an impact on next year’s crop. For next year, they are already predicting production losses totaling 70 million bags.

Federal safety officials are proposing nearly $1 million in fines against four companies following a liquid nitrogen leak that killed six workers at a northeast Georgia poultry processing plant. This first happened back in January. The workers died at a plant in Gainesville, Georgia. Foundation Food Group, which owns the plant, was cited by OSHA with twenty-six violations and a fine of $595,000. The investigation says a new freezing line malfunctioned, sending a cloud of liquid nitrogen vapor.

Adding up the dollars and cents, 2019 was a record year for government payments to commercial farms. The economic research service reporting government payments to all farms totaled $14.8 billion in 2019. More than 30% of the about two million U.S. farms received some government payments that year. The average payment... $24,623. About 74% of commercial farms receive government payments in 2019 with an average payment of more than $84,00, and nearly 31% of intermediate farms got an average payment of $11,000. While 24% of smaller farms saw an average payment of more than $8,000.

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