Coffee prices have skyrocketed, reaching record highs. Experts point out that the price of coffee beans has increased by more than 80%. Although companies claim to have consumers' well-being in mind, they have already revealed that they will be increasing the prices of their products next year, and it is consumers who are feeling this most.
Many people cannot imagine their morning without their favorite coffee. But it turns out that this comforting morning routine can start to cost you a fortune, as coffee prices on the international market reach an all-time high.
According to the BBC, the price of Arabica beans has reached around $7 (about PLN 29) per kilogram, which means a price increase of more than 80% this year. Meanwhile, Robusta bean prices peaked in September.
Historic rise in coffee prices. I'm worried about next year's harvest
Prices may be related to reduced coffee bean yields. This comes after two major producing countries, Vietnam and Brazil, were affected by bad weather. For example, Brazil experienced its worst drought in 70 years during the summer holidays. Heavy rains followed, damaging some crops and raising concerns that next year's crops would not grow.
See: This is how much we spent on Black Weekend. Interesting data from BLIK
Despite declining harvests, interest in coffee itself continues to grow, and coffee brands are considering raising prices next year.
Large companies have resisted the increase in recent years, but that could change. – The (corporate edition) is now almost at a turning point. Tuan Loc Commodities CEO Tuan Loc said in an interview with the BBC that many of them are considering raising prices at supermarkets in the first quarter of 2025.
Coffee prices are rising. Large companies have already announced wage increases.
Major companies are already saying that they will avoid passing on costs to customers as much as possible.
See also: Significant hike in cigarette prices. The bill passed Same.
– Quality is of the utmost importance to us and has always been the basis of our trust contracts with consumers. (…) But for us, this means continuing to deal with very high costs. As a result, the famous Italian company Lavazza said it was forced to adjust its prices.
Nestlé held a similar opinion, announcing that it needed to “adjust prices and package sizes” to reflect current market conditions.
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