World: Coffee prices have risen by a record 80% in just one year

Published 2024년 12월 16일

Tridge summary

The prices of both 'Arabica' and 'Robusta' coffee varieties have reached record highs due to climatic anomalies in key production areas, with Arabica hitting an 80% increase in the past year. This is attributed to drought and excessive rain in Brazil, and similar conditions in Vietnam, the world's largest Robusta supplier. Despite these challenges, demand for coffee is on the rise, particularly in traditionally tea-drinking countries like China and the UK. The price hike has implications for consumers, expected in early 2025, and presents mixed reactions for the coffee industry. Small-scale producers, who account for 80% of production, welcome the increase, while concerns are raised about the sustainability of coffee cultivation due to climate change and limited new growing areas. Robusta's ability to grow in hotter climates and at lower altitudes offers a potential solution for the industry in the face of these challenges.

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

Original content

The stock market prices for the most popular coffee variety - "Arabica" - have reached a historic high, and consumers will feel the increase in price in early 2025. The reason is mainly due to climatic anomalies in Brazil - drought, and then torrential rains, reports the BBC. In just one year, "Arabica" coffee has increased in price by 80%. The previous record for the price of the "Arabica" variety was set in 1977. Another popular variety - "Robusta" - broke its all-time record in September. Coffee lovers will feel this only after the New Year. It is not only Arabica coffee producers in Brazil who have experienced extreme weather changes. Vietnam, the largest supplier of "Robusta" coffee, has also experienced drought and torrential rains this year. At the same time, demand for coffee is growing worldwide. Even in the homeland of tea - China, coffee is gaining popularity - in just ten years, from 2008 to 2018, the Chinese began to drink twice as much coffee. And the British, who ...

Source: Duma