On Wednesday, November 27, the pound of Arabica reached 320.10 cents in New York, a record since 1977. This increase is notably due to the historic drought and the fires which ravaged Brazil, the world's leading producer.
Over the last fifty years, the price of coffee has never been so high. The pound of Arabica, the best-selling variety in the world, reached 320.10 cents in New York on Wednesday, November 27, reports Actu.fr. If the price of coffee is breaking records, it is in particular because of growing fears about the harvest in Brazil, the world's largest producer.
The South American country was ravaged this summer by fires of extraordinary scale, fueled by a historic drought, a consequence of global warming. Added to this are geopolitical factors, with disruptions to maritime transport in the Red Sea and the increase in American customs duties promised by Donald Trump.
Future smaller and more expensive pods
Arabica is not the only variety to reach records. Robusta, produced mainly in Vietnam, now trades around $5,200 per tonne. A record price of $5,829 was reached in mid-September.
The price of coffee is unfortunately not going down any time soon, much to the chagrin of consumers. Coffee sales giants, such as Nestlé, have already announced that they will adapt their prices. Thus, the company which owns Nespresso and Nescafé has indicated that it will soon increase its prices, while reducing the size of its bags in view of an erosion of margins.
published on November 28 at 9:40 a.m., Lila Bruandet, 6Medias
Share
