CNBC: Farmers could be winners as coffee prices spike and countries hoard during the pandemic
Fears over disruptions to supply chains amid the pandemic have led to some degree of hoarding among countries and consumers that’s given coffee prices a much-needed boost.
That’s good news for farmers in key coffee-producing regions, who have been struggling as coffee prices kept slumping for the past few years.
Since 2016, prices have dropped 30% below the average for the past decade, according to the International Coffee Organization, a body representing 49 member countries which export and import coffee. Arabica coffee prices in March were above $1.12 per pound, a far cry from the peak of over $3.00 per pound around 2011.
“Many of the 25 million farmers worldwide … struggle to cover their operating costs as input prices continue to rise. Consequently, farm incomes decline and livelihoods are increasingly at risk,” the organization said in a report last week.
But prices of Arabica, the world’s most commonly produced coffee, rose last month due to concerns over its availability, said the ICO.
Related news
How much coffee does Generation Z drink?
The German coffee market is undergoing major transformation, mainly due…
Read more >Why are we paying more for our morning dose of caffeine?
I doubt that many of us can start an average…
Read more >Nescafé Espresso Concentrated Enters Europe With UK Debut
Food giant Nestlé has launched the Nescafé Espresso Concentrated range…
Read more >Related news
KSH: in April, retail turnover exceeded the same period of the previous year by 5.0 percent and the previous month by 2.0 percent
In April 2025, the volume of retail trade turnover increased…
Read more >FAO food price index fell in May
The benchmark global food price index fell in May from…
Read more >Eurozone retail sales rise in April
Retail sales in the eurozone and the European Union increased…
Read more >