Are the flagship drinks of our breakfast gradually becoming luxury products? While global reserves of orange juice are at their lowest level in decades and causing prices to explode in supermarkets, coffee prices are now experiencing a spectacular surge in prices. In the space of just two years, the price of robusta – known to be cheap – has increased by more than 200% and a tonne has exceeded $4,400 on financial prices, indicates BFMTV. The reasons for this outbreak have their roots in Vietnam, the world’s leading producer of robusta coffee.
Climate change is affecting the harvest
Drought, heat waves and also mealybugs have disrupted the growth of coffee trees, reducing bean production. “Burning heat and cochineal damage coffee branches, making coffee cherries smaller and seriously affecting their quality,” Nguyen Nam Hai, president of the Vietnam Coffee and Cocoa Association, told AFP. Consequence: the October harvest will be reduced by 15 to 20% compared to a normal year. By 2040, shortages are expected if current global demand does not weaken.
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This climate change, which considerably affects the growth of coffee trees, also forces coffee growers to diversify their production and develop other crops such as durian (this exotic fruit with a pestilential odor), fruits and even pepper. This multiplication of crops mechanically reduces the space dedicated to coffee cultivation. These different phenomena have a direct consequence on the wallets of the French who have seen the price of pods increase by 20% since 2022.
If the climatic hazards in Vietnam and strong global demand contribute to this outbreak, Giuseppe Lavazza, president of the legendary roaster of the same name, targets “the intervention of speculative investment funds” who have become accustomed to using the artificial intelligence and algorithms to get rich.
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