Retail prices for coffee in major Russian chains have increased less than purchasing prices, according to AKORT

Retail prices for coffee in the stores of large Russian retail chains have increased less than purchasing prices over the past year, Igor Karavaev, Chairman of the Presidium of the Association of Retail Companies (AKORT, which unites the largest Russian retailers), told TASS. Earlier, Bloomberg reported that coffee prices had reached a record high due to a possible global deficit. As the agency indicated, the price increase is due to the drought in Brazil, due to which supplies may be reduced in the near future. The harvest of a cheaper variety in Vietnam was also damaged by weather conditions. "The growth of global coffee prices has a delayed effect on the final product in Russian retail chains. Over the past year, purchasing prices for coffee have increased by an average of 20% due to weather conditions and inflation, but retailers smoothed out the price jump in the interests of consumers, and the rise in coffee prices on the shelves of large retail chains did not exceed 10%," ...