OPEN LETTER/ Come to the dialogue and listen to me speak, otherwise I will cut off your scholarships, you will rot in prison. Please!

 Kliko këtu për të tjera
Voxpress:

Coffee prices at historic highs, adverse weather conditions have pushed up costs

2024-08-29 12:03:22Kosova&Bota SHKRUAR NGA REDAKSIA VOX

Coffee prices at historic highs, adverse weather conditions have pushed up costs

Global coffee prices have risen to record levels due to adverse weather conditions that have ruined crops, leading to higher costs for consumers. Both robusta beans, commonly used in coffee, and the higher quality arabica variety have seen a significant price increase in recent months.

Robusta futures in London, the global benchmark, hit an all-time high of $4,971 a tonne this week, while Arabica futures in New York climbed to $2.49 a pound, nearing new highs. high in decades. Prices may not have peaked yet, experts warn.

A short spell of cold weather in Brazil, which produces about a third of the world's coffee (70% of which is arabica), has raised fears of a supply shortage. This comes after months of drought in Vietnam, the largest producer of robusta, pushing global supplies into a fourth straight year of deficit.

Rising transportation costs are also adding pressure to the market. Since November, attacks by Houthi militants in the Red Sea have forced ships traveling between Asia and Europe to take the longer route around the Cape of Good Hope, bypassing the Suez Canal.

These increased costs are being passed on to consumers, who may also notice a difference in taste. During the period of high Arabica prices from mid-2021 to early 2023, when robusta supplies were plentiful, roasters began to include more of the cheaper grains in their blends.

Now, with costs rising for both types of beans, roasters are looking to protect their shrinking profit margins by sourcing Arabica from cheaper producers, mainly Brazil, and increasing the proportion of lower-cost beans in their mixtures.


Në përputhje me standarded JTI

Video

SHIKO KANALIN NE YOUTUBE
×