Expected increase in coffee prices worldwide; unusual crops following El Niño weather anomalies

게시됨 2023년 6월 11일

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The article highlights the anticipated supply shortage of 'soft commodities' such as coffee, chocolate, and sugar due to the return of the El Niño phenomenon and the impact of abnormal weather conditions on crop production. Major food producers are already experiencing challenges due to heatwaves, droughts, and floods, with prices for products like Robusta beans, cocoa, sugar, and orange juice seeing significant increases. The situation is further exacerbated by decreased production in key countries like Vietnam, Indonesia, Brazil, and Côte d'Ivoire, and the potential for reduced cocoa production in West Africa. The article also discusses the potential for the beverage industry to shift away from orange juice due to supply shortages and the impact of these commodity price hikes on consumers.

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원본 콘텐츠

An employee steams milk for caffe latte at a coffee shop in New Delhi, India. Reuters Yonhap News As the El Niño phenomenon reappears this summer and abnormal weather becomes more frequent, it is predicted that the supply shortage of’soft (soft) raw materials’ such as coffee, chocolate, and sugar will deepen. On the 10th, reported that major food producers suffered from heatwaves, droughts and floods, and crops were not as good as in previous years. Already, Robusta bean, cocoa, sugar and orange juice futures are all up more than double digit percentages over last year. As of the 9th, the orange juice futures price was $257.95 per pound, up 39.39% from the same period last year. Sugar rose 34.5% from last year, and cocoa rose 33.33% from last year. Conna Haq, research director at ED&F Man, an international agricultural trading company, predicted, "The last food prices that will remain high will be sugar, coffee and sweets." Prices for Robusta, one of the cheaper ...

출처: Hani