The cost of coffee beans in international markets is at record highs, with the cost of robusta coffee futures peaking on London’s exchange at $3,497 per tonne on March 7 and remaining at $3,421 as of Tuesday of this week. Arabica futures in New York, which are the better beans used for more premium coffee, are trading at 181.85 cents per pound, up 24 percent compared to September. Forecasts for coffee are bad — Indonesia is projected to be down 20 percent, Vietnam down 12 percent — but consumption is up, with global consumption up 20 percent globally in the 2023-24 season compared to 2013-14. Asia in particular is seeing double-digit and even triple-digit growth in desire for beans.
What’s next? Coffee price is going up….
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