Rising coffee prices: disasters strike the world’s largest coffee growers

By: Trademagazin Date: 2024. 09. 23. 12:03

🎧 Hallgasd a cikket: Nyelv: Sebesség: 1.05×

Coffee is becoming more expensive across Europe, as the world’s two largest coffee-growing countries, Brazil and Vietnam, faced severe natural disasters, reports EuroNews. Brazil was hit by a historic drought, while Vietnam was ravaged by typhoons, causing significant crop losses and price increases.

Brazil, which accounts for 40% of global coffee production, has suffered heavy losses, particularly in its Arabica coffee growing regions. Production may have dropped by up to 20% due to the drought.

Vietnam, the largest producer of robust coffee, also suffered severe damage from Typhoon Yagi, which destroyed thousands of hectares of coffee plantations.

According to the International Coffee Organization (ICO), coffee prices rose by 20% in the third quarter of 2024, reaching the highest level in the past decade. Experts blame climate change and do not consider the coffee market to recover quickly.