Why are coffee prices increasing?
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According to statistics, coffee prices are increasing. Data from Trading Economics shows that coffee prices jumped to 2.4 USD/pound in September 2022, a sharp increase compared to 2021 (about 1.5 USD/pound). All buyers, from chain businesses, specialty coffee roasters, to consumers, are paying more for the coffee beans they use. Why so? Find out with 43 Factory Coffee Roaster!
The reason why coffee prices are increasing
According to Telegraph magazine, the average price of a cup of coffee is now up to 3 pounds at the largest coffee chains in the UK. Prices have increased by 50p per cup with no signs of decreasing. Origin Coffee’s research suggests that coffee prices are increasing possibly due to inflation, increased farm operating costs and issues of fair wages for farmers. High inflation causes the prices of all raw materials, products, and services to increase. This causes the cost of raw materials, machinery, and equipment necessary for the production, transportation, and supply of coffee to increase, leading to an increase in coffee prices. A sub-study shows that rising energy costs due to inflation have caused the average price of a cup of coffee to increase from £2.78 to £2.88 in just 3 months (February – May 2022).
In addition, high-quality coffee or organic coffee with sustainable, Fair Trade, Rainforest Alliance Certified certifications require a lot of cost and effort, which will skyrocket. With some sustainable coffee certifications, producers need to ensure they meet coffee quality standards and pay fair prices for labor and the farm environment. However, they do not receive outside support, which is mostly personal capital. Therefore, these amounts are included in production costs, causing coffee prices to increase.
Climate change is also the cause of coffee prices increasing rapidly in recent years. Because the world is gradually warming, weather developments are becoming more complicated and difficult to predict, causing coffee output to decline rapidly. This causes supply disruptions, creating global price fevers. For example, drought in many parts of South America has caused coffee prices to increase by nearly 39% in total and over the past two years (according to the Wall Street Journal).
How to drink coffee economically when coffee prices increase?
Experts say that making roasted coffee at home is more economical than buying coffee at a coffee shop. By using a suitable grinder, brewer and coffee beans, you can both reduce the cost of your daily cup of coffee and freely adjust and choose the recipe and type of coffee beans that suit your needs. me. However, to ensure delicious and quality finished products, you should choose reputable suppliers and choose pure roasted coffee instead of pre-ground coffee.
XLIII Coffee – A brand developed from its predecessor 43 Factory Coffee Roaster, is a leading specialty coffee beans supplier in Vietnam. Coffee supply partners include sustainable producers, farmers, and cooperatives that meet international standards from all over the world. Specialty coffee beans are all from single-origin coffee lots, cultivated according to agroforestry, ensuring high quality and limited impact on the environment.
By operating according to the principles of sustainability, placing ethics and social responsibility first, each process of supplying XLIII Coffee products is always committed to paying a price worthy of the effort to farmers and giving full of value that customers receive in each cup of coffee. Therefore, we always pay farmers a price equal to or higher than the proposed price. Publicize each price on each product information tag. Coffee is imported through official channels, with strict quality control so that when it reaches you, the coffee beans are always guaranteed to be fresh and transparent.
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