Tim Hortons Coffee Is Costing You More Money Even Though It Shouldn't
This is what happens when coffee is mixed with business.
Photo cred - Quan
More than just a beverage, coffee is a lifestyle. No, actually, for a lot of us, it is life force incarnate, as a cup of Joe is the only thing that can get us caffeine junkies' brains 'n bodies to function. Woe was the word, then, when coffee supplies ran short this year, with major coffee chains like. Right now, the world coffee situation is much better, but don't expect a price drop.
Tim Hortons, along with other major coffee chains/suppliers like Starbucks and Folgers, originally raised their coffee prices due to an ongoing drought in Brazil, the world's largest coffee bean producer. The price of coffee beans doubled, and coffee chains increased their prices accordingly to cover the costs.
But the rain gods have smiled upon Brazil, and precipitation rates are back to normal. The price of coffee beans has gone down accordingly, dropping 27% since October's $2.21 per pound high (Global has a handy map here) to around $1.60/lb, and could decrease to $1.50/lb in the spring.
With the price of coffee beans steadily going down, one would think that the price of a cup of coffee at Tim Hortons would also drop. Unfortunately, that probably isn't the case.
When asked for a comment by Global News, Tim Hortons neglected to give a firm response. Out in Buffalo, Tim Hortons coffee just increased in price, which points towards a franchise-wide increase in menu prices that will probably stick around. Tim Hortons jacked up their prices only a few months ago in November, so putting them back down would probably be a hassle, especially when the company stands to make more money, which is a sad reality for us coffee drinkers on a budget.
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