Coffee News

Consumers will probably have to pay more for coffee next year. "Coffee prices will rise," said agricultural market expert Carlos Mera of Rabobank in London.

In Austria, too, consumers must expect higher prices, as Johann Brunner, managing director of the Austrian Coffee and Tea Association, told APA. Market developments have recently become more severe, Brunner noted.

price increase of 70 percent

The price of Arabica beans traded on the ICE commodity exchange in New York rose this week to more than 320 US cents (three euros) per US pound (454 grams).

This is the highest price since 1977, said Mera, without taking inflation into account. This year alone, green coffee prices have risen by around 70 percent. The consequences for end consumers will only be felt in six to nine months, said Mera.

Cheaper beans or higher price

The harvest declined due to weather conditions, noted Brunner. Added to this were supply chain problems, higher energy prices and higher demand in Asia, he added.

"I fear that not all suppliers will be able to compensate for the higher price," said Brunner. One possibility is to change the blend and focus on cheaper beans in order to escape the price pressure.