Price for arabica beans tops $3.44 a pound, while cost of robusta beans almost doubles this year
The coffee price pressure follows predictions of smaller harvests this year after the world’s largest producers were hit by bad weather.The coffee price pressure follows predictions of smaller harvests this year after the world’s largest producers were hit by bad weather.On Tuesday, the price for arabica beans, the world’s most popular variety, topped $3.44
The price pressure follows predictions of smaller harvests this year after the world’s largest producers, Brazil and Vietnam, were hit by bad weather. The squeeze comes at a time when consumer demand for cups of coffee continues to grow. “Like every manufacturer, we have seen significant increases in the cost of coffee, making it much more expensive to manufacture our products,” Nestlé said at the time. “We continue to be more efficient and absorb increasing costs where possible.”“We have never seen such a spike in price as the trend right now,” said Giuseppe Lavazza, who chairs the company. “The coffee supply chain is dramatically under pressure.
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