Shoppers: Cappuccino and latte prices increase in coffee shops due to rising milk prices in Russia

Published 2024년 11월 1일

Tridge summary

Coffee shop chains in Russia are facing a significant price increase due to a surge in the cost of milk and cream, with prices expected to rise by 5-7% by the end of the year. This increase, already underway, is attributed to a imbalance between supply and demand. The situation has also led to a 25-30% increase in coffee prices this year, alongside rising foreign exchange rates and the Central Bank's key rate, forcing chains to pass on the costs to consumers by raising the minimum price of coffee.

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

Original content

Coffee shops in Russia are forced to raise prices not only because of the rise in coffee prices. In October, Dmitry Koryukin, director of products for the Doubleby coffee shop chain, told Shopper's about the upcoming price increase of up to 30%, warned suppliers of milk and cream. By the end of the year, prices for milk and cream for coffee shops will increase by 5-7%, estimates the founder and co-owner of One Group (the One Price Coffee and Coffee in coffee shop chain) Sergey Rumyantsev. The rise in prices is already underway. Yana Alkhutova, commercial director of the Cofix coffee shop chain, reported that since the beginning of the year, prices for milk and cream have risen by 30-35%. Rumyantsev says 15-20%. "The increase in prices for dairy products for Shokoladnitsa is in the tens of percent," said Oleg Podgorny, general director of the Shokoladnitsa Group. Alkhutova explains the growth of purchase prices for dairy products by demand exceeding supply. According to her, this ...

Source: Milknews