| Dear Customer,
I hope this letter finds you and your family in good health and happiness.
The coffee market has now reached 10-12 year highs and is still rising. Major roasters have already raised prices twice beginning in December 2007 and again early this February 2008.
Effective Monday, March 10, 2008, we are raising our prices $.70 a pound across the board. If the market does not drastically retreat, expect another increase on Monday, April 7, 2008. Our best estimate is another $.30 to $.50 per pound increase.
The reasons for the sharp rise in green coffee prices are heavy speculation by Hedge Funds and the weak U.S. dollar. I am sorry for this short notice, but I thought I could use up our extra inventory hoping that the market might go back down. I was wrong. We take pride though in knowing we were one of the last to raise our prices.
Unfortunately, the whole commodities market is in a major upswing and eventually it should level off. Hopefully, when it does, we can be the first to lower our prices.
Thank you for your continued business and support.
Sincerely,
Michael S. Mountanos |