Unprecedented increase globally: Will coffee prices rise in Egypt?

Published 2024년 11월 27일

Tridge summary

The local coffee market is experiencing anticipation due to global price increases, which have reached a 16-year high, primarily due to climate changes impacting Brazil, a major coffee producer. Despite this, there have been no price increases in Egypt yet, attributed to the ample inventory. However, a rise in global prices, which is reflected locally during new inventory imports, could lead to local price increases. The Coffee Division is working to stabilize local prices and prevent unnecessary fluctuations. Egypt's coffee consumption amounts to about 80 thousand tons annually, with the majority of imports coming from Indonesia.

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Original content

Written by - Dina Karam: Hassan Fawzy, head of the Coffee Division at the Cairo Chamber of Commerce, told Masrawy that the local coffee market is still in a state of anticipation with the continued global increases in coffee prices, which are currently being witnessed by global stock exchanges. Global coffee prices have reached unprecedented levels in 16 years, as a result of climate changes that affected Brazil, the largest coffee-producing country, which in turn affected production. Fawzy pointed out that any disruption in Brazil's production is quickly reflected in global coffee prices. He added that there are no local price increases so far, supported by the abundance of inventory, but if coffee stock exchanges continue to rise, prices will increase globally, which will be reflected locally when importing new inventory at high prices. Fawzy pointed out that the local market is still stable, while maintaining current coffee prices, as the price of plain coffee reaches 480 ...

Source: EGmasrawy