The international coffee futures market has seen significant price increases, with the US ICE coffee futures rising nearly 70% this year. Prices reached a record high of 345.55 cents per pound. The surge is attributed to weather changes and supply chain disruptions, notably in Brazil, the world's largest coffee producer. Severe droughts and frosts have drastically reduced coffee output. Despite the price hike benefiting domestic coffee farmers, the supply issue remains challenging. The coffee market requires diverse pricing to cater to all consumers, from budget-friendly to premium. Although futures prices have spiked, retail coffee prices remain stable due to competitive promotions by brands like Luckin Coffee and Manner Coffee.
Global Coffee Prices Surge Amid Supply Chain Disruptions
Dec 12, 2024
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