2024 Author: Jasmine Walkman | [email protected]. Last modified: 2023-12-16 08:29
Due to the unprecedented drought in Brazil, which is the world's largest exporter of coffee, the drink will rise in price by up to 50 percent for some brands.
The rise in prices will start next month, with growth initially between 10 and 15% and reaching 50%. World experts have already noted that in just one week coffee has jumped by 8.7%.
Coffee packages in our country also have higher prices in recent days, but the noticeable difference in values will be felt in February. Already in October last year, the price of the drink rose by 7.5% due to poor yields.
Georgi Bundev from Sofstock explained to the newspaper Trud that for now the coffee distributors in our country are trying to keep the prices, but since we are dependent on the world stock exchanges, the jump will also affect our markets.
According to forecasts, the popular New Brazil will jump to BGN 3 for a package of 100 grams. The current prices of this brand are between BGN 1.50 and 2.
The widespread Jacobs brand will reach BGN 3.20 per 100 grams, and Lavazza - between BGN 8 and 10, according to the Vseki Den newspaper.
More expensive coffee will be sold not only in the retail network, but in the restaurants that offer the drink.
The culprits for higher coffee prices are the drought in Brazil, which is the largest exporter of coffee worldwide. Colombia has tried to make up for the shortfall during the year, but has reached only 20-25% of Brazil's capacity.
The high exchange rate of the US dollar also proved to be a factor in the pricing of coffee. Prices are not expected to return to normal until 2016, when the new coffee crop in South America will be harvested.
When asked whether to stock up on caffeinated beverage before it has risen dramatically, experts say it makes no sense, as improper storage will impair its taste.
There are no official statistics on coffee consumption in Bulgaria, but according to some of the largest producers, Bulgarians drink between 2 and 3 kg per year.
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