Historically, wholesale coffee prices have been volatile, fluctuating widely over time.
In the past two years, coffee prices have dropped from a high of $1.55 per pound to a low of 87 cents.
Currently, coffee is selling for 99 cents per pound.The volatility in coffee has been hard on small-to-medium sized coffee farms in countries where there arefew banking options and where growers often get paid prices that don't reflect the market, according to Luis Macias, CEO of blockchain-based supply chain service GrainChain.
The company is based inMcAllen, Texas.