After recording the highest global level, the Coffee Division expects a jump in local prices

Written by - Dina Khaled: Hassan Fawzy, head of the Coffee Division at the Cairo Chamber of Commerce, told Masrawy that despite the successive and continuous increases in global coffee prices, prices are stable in the local market so far, but he expects a jump in prices locally if global increases continue. Fawzy pointed out that the last increase in coffee prices was two months ago, when the price of a kilo of plain coffee reached 480 pounds, and the price of a kilo of roasted coffee reached 600 pounds. He added that the prices of raw coffee rose to their highest level in 15 years, as a result of the shortage of supply in global markets due to climate change and drought, which led to a decline in the crop. Fawzy attributed the rise in roasted coffee prices to the rise in global cardamom prices as a result of drought conditions in the country of "Mala", which is the largest cardamom exporting country. Futures contracts for "Arabica" coffee beans rose by 4.8% to $2.718 per pound in ...