The CEO of a large coffee roasting company in the US said that coffee prices are too high, consumers do not want to spend a large amount of money just to buy coffee.
Coffee garden in Guaxupe, Minas Gerais state, Brazil - Photo: REUTERS
At the recent National Coffee Association (NCA) annual conference in Houston, Texas, coffee producers and conference attendees said they were shocked by the news that Arabica coffee futures prices on the Intercontinental Exchange (ICE) had increased by 70% since November 2024.
Coffee prices have risen due to reduced production in key coffee growing regions, especially Brazil - the world's leading coffee growing country. This has reduced coffee supply, pushing prices much higher than before.
The main reason is that Brazil is struggling with the worst drought on record. Coffee farmers in Brazil are struggling to sell their stocks because they fear the new crop will not sell as global coffee prices have nearly doubled to an all-time high.
The price of Arabica coffee recorded on February 11 increased to an all-time high of 4.3 USD/0.45 kg.
Currently, coffee production at warehouses receiving whole bean coffee from Central and South America at seaports in the US has also decreased to only half of what it was before.
The CEO of a major coffee roaster in the United States - the world's largest coffee consumer - said some of their partners and customers are not sure they can continue to sell coffee. Because coffee prices are too high, consumers do not want to spend such a large amount of money just to buy coffee.
This person also revealed that supermarkets and retail stores are protesting against the current coffee prices offered by the producers.
Coffee producers and supermarket and retail store owners also took longer to negotiate a fair coffee price for both parties. This caused some retail stores and supermarkets to start running out of coffee.
Source: https://tuoitre.vn/gia-ca-phe-toan-cau-tang-soc-nguoi-dung-se-ngung-uong-ca-phe-20250308064505083.htm
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