World: Coffee drinkers face price rises as beans hit record high on markets

Published 2024년 12월 11일

Tridge summary

Record prices for coffee beans, with arabica beans surging over 80% and robusta beans nearly doubling, due to smaller harvests in Brazil and Vietnam caused by adverse weather conditions. This comes at a time of growing consumer demand, leading to price increases and shrinking pack sizes by manufacturers like Nestlé. The situation, worsened by weather-related supply chain issues and potential new legislation, may result in a global coffee production shortfall in the 2025/26 season, continuing a trend of deficits. The rise in prices, while challenging for manufacturers, is seen as a positive by some, as it signifies fairer pay for farmers.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Your morning coffee could become even pricier in the new year after the cost of coffee beans on international commodity markets soared to a record high. The price for arabica beans, the world’s most popular variety, topped $3.44 a pound on Tuesday, having risen more than 80 per cent this year. Meanwhile, the cost of cheaper robusta beans, used in instant coffee, has almost doubled this year, with the price touching $5,694 a metric tonne in late November. The price pressure follows predictions of smaller harvests this year after the world’s largest producers, Brazil and Vietnam, were hit by bad weather. The squeeze comes at a time when consumer demand for cups of coffee continues to grow. Last month, Nestlé, which owns leading brands including Nescafé and Nespresso, said it would continue to increase prices and shrink pack sizes in an attempt to offset higher bean prices. The price of Nescafé Original instant coffee is up 15 per cent year on year in UK supermarkets, according to ...

Source: Irishtimes