Coffee

Extremely dry conditions in Latin America are driving a surge in coffee prices

Local roasted coffee beans, Arabica, at the coffee farm La Victoria on August 19, 2016 in Minca, Colombia. The coffee is made for export. (Photo by EyesWideOpen/Getty Images)
Local roasted coffee beans, Arabica, in Minca, Colombia. Photo: EyesWideOpen/Getty Images

Extremely dry conditions in Latin America have led to a slowdown in coffee harvesting in Honduras, causing prices to surge 20% on the Intercontinental Exchange in recent weeks, the Wall Street Journal reports.

Driving the news: Coffee futures in mid-October were at $.93 a pound and have now reached around $1.157, spiking a total of 12% over two trading sessions last week alone, per the Journal.

Modern office: Free coffee isn’t enough. It has to be fancy

Photo: Alberto Pizzoli/AFP/Getty Images

No more instant: Picky employees are increasingly driving companies to offer high-end coffee, with demand causing firms to go "a bit more niche and independent," the Financial Times reports.

The big picture: "Dedicated coffee-makers ... are one example of the caffeinated offerings that some companies deploy to keep their employees productive, happy — and in the building."