Coffee prices may rise in Russia by the end of the year

Published 2024년 9월 26일

Tridge summary

Russia has seen a significant increase in coffee imports over the past 20 years, with a five percent rise in 2023 compared to the previous year, reaching 220 thousand tons and a total cost of 210 billion rubles, marking a 24% increase from 2022. The country's main suppliers are Vietnam and India, with Robusta coffee, crucial for instant coffee, experiencing a decrease in production this year, potentially leading to higher coffee shop prices. There's been a trend towards robusta and a shift from Arabica to instant coffee, contributing to price balance and popularity of milk-based coffee beverages like cappuccino and latte. Experts forecast that coffee prices will continue to rise but at a moderate level due to these factors, as Arabica coffee prices remain high due to supply issues.

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Original content

As she told Rossiyskaya Gazeta, Russia has increased coffee imports by 20 times in 20 years. "If an average of 210 thousand tons were imported into our country annually, then in 2023 they imported 220 thousand tons (+5%) for a total of 210 billion rubles (+24% compared to 2022)," she said. The rise in coffee prices does not stop Russians from buying it. It is mainly supplied to Russia from Vietnam (3rd place) and India (6th place). This year, it was Vietnam that harvested the least coffee and it was the Robusta variety, from which instant coffee is mainly made, the expert continues. Accordingly, there is a possibility that coffee in coffee shops will become more expensive. "Coffee shops are switching to cheaper varieties, but the demand for them is growing and thereby increasing prices for them. The transition to cheap robusta is a new trend in the market. According to the World Coffee Organization, for 12 months of 2023 (from August 2022 to August 2023), Arabica exports decreased ...

Source: RG