Starbucks Waiting For Coffee Prices To Drop

Starbucks has stopped buying coffee.

WTF!

Actually, there’s a reasonable explanation. Coffee prices are sky-rocketing, and Starbucks is waiting for them to go down.

Said John Culver, president of Starbucks:

“We think that these prices are not based on facts given there is no supply problem. Speculators are at work here. We do believe, however, that prices are going to fall again. For this year, we have suspended our coffee buys for the moment but we watch the market closely.”

They better go down! People need their coffee!

[Image via AP Images.]