{"id":135852,"date":"2024-12-11T15:36:12","date_gmt":"2024-12-11T08:36:12","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=135852"},"modified":"2024-12-11T15:36:12","modified_gmt":"2024-12-11T08:36:12","slug":"coffee-prices-at-record-high-after-bad-weather","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=135852","title":{"rendered":"Coffee prices at record high after bad weather"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div id=\"\">\n<figure>\n<div data-component=\"image-block\" class=\"sc-18fde0d6-0 EXUng\">\n<div data-testid=\"hero-image\" class=\"sc-a34861b-1 jxzoZC\"><img decoding=\"async\" src=\"https:\/\/www.bbc.com\/bbcx\/grey-placeholder.png\" class=\"sc-a34861b-0 cOpVbP hide-when-no-script\"\/><img decoding=\"async\" sizes=\"(min-width: 1280px) 50vw, (min-width: 1008px) 66vw, 96vw\" srcset=\"https:\/\/ichef.bbci.co.uk\/news\/240\/cpsprodpb\/6042\/live\/b4e97e60-b5f9-11ef-a87b-f3b0d7e53085.jpg.webp 240w,https:\/\/ichef.bbci.co.uk\/news\/320\/cpsprodpb\/6042\/live\/b4e97e60-b5f9-11ef-a87b-f3b0d7e53085.jpg.webp 320w,https:\/\/ichef.bbci.co.uk\/news\/480\/cpsprodpb\/6042\/live\/b4e97e60-b5f9-11ef-a87b-f3b0d7e53085.jpg.webp 480w,https:\/\/ichef.bbci.co.uk\/news\/640\/cpsprodpb\/6042\/live\/b4e97e60-b5f9-11ef-a87b-f3b0d7e53085.jpg.webp 640w,https:\/\/ichef.bbci.co.uk\/news\/800\/cpsprodpb\/6042\/live\/b4e97e60-b5f9-11ef-a87b-f3b0d7e53085.jpg.webp 800w,https:\/\/ichef.bbci.co.uk\/news\/1024\/cpsprodpb\/6042\/live\/b4e97e60-b5f9-11ef-a87b-f3b0d7e53085.jpg.webp 1024w,https:\/\/ichef.bbci.co.uk\/news\/1536\/cpsprodpb\/6042\/live\/b4e97e60-b5f9-11ef-a87b-f3b0d7e53085.jpg.webp 1536w\" src=\"https:\/\/ichef.bbci.co.uk\/news\/480\/cpsprodpb\/6042\/live\/b4e97e60-b5f9-11ef-a87b-f3b0d7e53085.jpg.webp\" alt=\"Getty Images A barista prepares a cup of coffee at a shop in Hanoi, Vietnam, on Tuesday, 30 August, 2022. \" class=\"sc-a34861b-0 efFcac\"\/><span class=\"sc-a34861b-2 fxQYxK\">Getty Images<\/span><\/div>\n<\/div>\n<\/figure>\n<div data-component=\"text-block\" class=\"sc-18fde0d6-0 dlWCEZ\">\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Coffee drinkers may soon see their morning treat get more expensive, as the price of coffee on international commodity markets has hit its highest level on record.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">On Tuesday, the price for Arabica beans, which account for most global production, topped $3.44<!-- --><b id=\"\" class=\"sc-7dcfb11b-0 kVRnKf\"> <!-- --><\/b>a pound (0.45kg), having jumped more than 80% this year. The cost of Robusta beans, meanwhile, hit a fresh high in September.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">It comes as coffee traders expect crops to shrink after the world&#8217;s two largest producers, Brazil and Vietnam, were hit by bad weather and the drink&#8217;s popularity continues to grow.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">One expert told the BBC coffee brands were considering putting prices up in the new year.<!-- --><\/p>\n<\/div>\n<div data-component=\"text-block\" class=\"sc-18fde0d6-0 dlWCEZ\">\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">While in recent years major coffee roasters have been able to absorb price hikes to keep customers happy and maintain market share, it looks like that&#8217;s about to change, according to Vinh Nguyen, the chief executive of Tuan Loc Commodities.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">&#8220;Brands like JDE Peet (the owner of the Douwe Egberts brand), Nestl\u00e9 and all that, have [previously] taken the hit from higher raw material prices to themselves,&#8221; he said. <!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">&#8220;But right now they are almost at a tipping point. A lot of them are mulling a price increase in supermarkets in [the first quarter] of 2025.&#8221;<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Italian coffee giant Lavazza said it had gone to great lengths to protect its market share and not pass on higher raw material costs to customers, but soaring coffee prices had eventually forced its hand.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">&#8220;Quality is paramount for us and has always been the cornerstone of our contract of trust with consumers,&#8221; the company told BBC News.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">&#8220;For us, this means continuing to tackle very high costs. So, we have been forced to adjust prices&#8221;.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">At an event for investors in November, a top Nestl\u00e9 executive said the coffee industry was facing &#8220;tough times&#8221;, admitting his company would have to adjust its prices and pack sizes.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">&#8220;We are not immune to the price of coffee, far from it,&#8221; said David Rennie, Nestl\u00e9&#8217;s head of coffee brands.<!-- --><\/p>\n<\/div>\n<p><h2 class=\"sc-518485e5-0 kRvAla\">Drought and heavy rain<!-- --><\/h2>\n<\/p>\n<div data-component=\"text-block\" class=\"sc-18fde0d6-0 dlWCEZ\">\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">The last record high for coffee was set in 1977 after unusual snowfall devastated plantations in Brazil.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">&#8220;Concerns over the 2025 crop in Brazil are the main driver,&#8221; said Ole Hansen, head of commodity strategy at Saxo Bank. <!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">&#8220;The country experienced its worst drought in 70 years during August and September, followed by heavy rains in October, raising fears that the flowering crop could fail.&#8221;<!-- --><\/p>\n<\/div>\n<figure>\n<div data-component=\"image-block\" class=\"sc-18fde0d6-0 gfTVSf\">\n<div data-testid=\"image\" class=\"sc-a34861b-1 jxzoZC\"><img decoding=\"async\" src=\"https:\/\/www.bbc.com\/bbcx\/grey-placeholder.png\" class=\"sc-a34861b-0 cOpVbP hide-when-no-script\"\/><img decoding=\"async\" sizes=\"(min-width: 1280px) 50vw, (min-width: 1008px) 66vw, 96vw\" srcset=\"https:\/\/ichef.bbci.co.uk\/news\/240\/cpsprodpb\/90aa\/live\/a72cf320-b6ed-11ef-aff0-072ce821b6ab.png.webp 240w,https:\/\/ichef.bbci.co.uk\/news\/320\/cpsprodpb\/90aa\/live\/a72cf320-b6ed-11ef-aff0-072ce821b6ab.png.webp 320w,https:\/\/ichef.bbci.co.uk\/news\/480\/cpsprodpb\/90aa\/live\/a72cf320-b6ed-11ef-aff0-072ce821b6ab.png.webp 480w,https:\/\/ichef.bbci.co.uk\/news\/640\/cpsprodpb\/90aa\/live\/a72cf320-b6ed-11ef-aff0-072ce821b6ab.png.webp 640w,https:\/\/ichef.bbci.co.uk\/news\/800\/cpsprodpb\/90aa\/live\/a72cf320-b6ed-11ef-aff0-072ce821b6ab.png.webp 800w,https:\/\/ichef.bbci.co.uk\/news\/1024\/cpsprodpb\/90aa\/live\/a72cf320-b6ed-11ef-aff0-072ce821b6ab.png.webp 1024w,https:\/\/ichef.bbci.co.uk\/news\/1536\/cpsprodpb\/90aa\/live\/a72cf320-b6ed-11ef-aff0-072ce821b6ab.png.webp 1536w\" src=\"https:\/\/ichef.bbci.co.uk\/news\/480\/cpsprodpb\/90aa\/live\/a72cf320-b6ed-11ef-aff0-072ce821b6ab.png.webp\" alt=\"Line chart showing coffee futures prices for Arabica coffee in US dollars per pound, from September 1972 to 10 December 2024. The price starts at roughly 50 cents per pound and climbs to a high of just over $3.00 in 1977. It then fluctuates between roughly 50 cents and $2.50, until hitting a record high of $3.44 on 10 December 2024.\" class=\"sc-a34861b-0 efFcac\"\/><\/div>\n<\/div>\n<\/figure>\n<div data-component=\"text-block\" class=\"sc-18fde0d6-0 dlWCEZ\">\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">It is not just Brazilian coffee plantations, which mostly produce Arabica beans, that have been hurt by bad weather. <!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Robusta supplies are also set to shrink after plantations in Vietnam, the largest producer of that variety, also faced both drought and heavy rainfall.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">Coffee is the world&#8217;s second most traded commodity by volume, after crude oil, and its popularity is increasing. For example, consumption in China has more than doubled in the last decade.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">&#8220;Demand for the commodity remains high, while inventories held by producers and roasters are reported to be at low levels,&#8221; said Fernanda Okada, a coffee pricing analyst at S&amp;P Global Commodity Insights.<!-- --><\/p>\n<p class=\"sc-eb7bd5f6-0 fYAfXe\">&#8220;The upward trend in coffee prices is expected to persist for some time,&#8221; she added.<!-- --><\/p>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.bbc.com\/news\/articles\/c36pgrrjllyo\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Getty Images Coffee drinkers may soon see their morning treat get more expensive, as the price of coffee on international commodity markets has hit its highest level on record. On &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=135852\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-135852","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/135852","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=135852"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/135852\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=135852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=135852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=135852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}