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Lavazza told the Financial Times, "Coffee prices are not going to go down; they are going to stay very high. The chain of distribution for coffee is very vulnerable."
The price of coffee has increased by almost 15% on UK grocery aisles since 2023.
Due to rising raw material costs, coffee roasting firms have been obliged to hike prices and decrease profitability. Lavazza attributes this to a reduction in supply brought on by climate change.
Coffee prices worldwide increased considerably due to an extreme heat wave that affected major growing regions of Asia in the second quarter. By the end of June, Robusta futures prices in London grew by 18.1% from the end of March, while Arabica futures had increased by 20.6%.
source: ft.com
The price of coffee has increased by almost 15% on UK grocery aisles since 2023.
Due to rising raw material costs, coffee roasting firms have been obliged to hike prices and decrease profitability. Lavazza attributes this to a reduction in supply brought on by climate change.
Coffee prices worldwide increased considerably due to an extreme heat wave that affected major growing regions of Asia in the second quarter. By the end of June, Robusta futures prices in London grew by 18.1% from the end of March, while Arabica futures had increased by 20.6%.
source: ft.com