Report: the price of Robusta coffee is at a 29-year high due to increased demand and will not fall too quickly in the future.
Recently, coffee consulting platform Perfect Daily Grind released a report saying that the price of robusta coffee has been rising steadily this year. In October 2021, the price of robusta coffee reached a 10-year high due to a shortage of shipping containers, and it was the sixth year in a row that the price of robusta coffee rose. By June 2023, the International Coffee Organization reported that the average price in Robstad had risen 7.8% to 132.12 cents per pound. By January 2024, prices had been rising every week and are now at a 29-year high.
In addition to rising prices on the international market, local purchase prices have also risen in Brazil and Vietnam, the main producers and exporters of Robusta coffee. Earlier, the Brazilian Advanced Research Center for Applied Economics said that due to increased demand in the international market, the average price of a 60-kilogram bag of coffee in Brazil is 802.67 reais (about US $160). In Vietnam, the current price of central highland raw coffee is 7700-79 million dong / ton, and earlier it broke the record as high as 8000-81 million dong / ton.
And the report points out that Robusta's prices will not fall any time soon. The price of coffee, whether Arabica or Robusta, depends to a large extent on the principle of supply and demand, and in essence, as global coffee is limited, prices will rise if demand increases. And in recent years, the growing popularity of blended coffee has increased demand for Rob Stade. In addition to supply shortages and sharp demand driving the market, this situation has been exacerbated by recent transport difficulties related to East Asia.
The ongoing Red Sea crisis is seriously affecting global trade routes, particularly those connecting East Asian origin (such as Viet Nam and Indonesia) to Europe, which will face longer shipping times and higher prices. to adapt to rising insurance risk premiums and increased competition for transport containers. In addition, there are many factors, including drought-related market shortages, and climate-related shortages of Arabica coffee have also contributed to increased demand for Robustad. And, due to insufficient inventory, traders in order to get enough inventory earlier, push up the price to buy coffee beans.
And now more and more large coffee companies are buying more Robusta, which has become more popular in the coffee market in order to increase the number of blended coffee, which has become more popular in the coffee market because of rising costs and inflation. And at the World Coffee Competition in recent years, many contestants have begun to use blended coffee for the competition, and there is also Robusta Coffee. Japanese competitor Takayuki Ishitani ranked fourth in the 2022 WBC, using a combination of Robusta and anaerobic fermented summer.
At present, including the world coffee research and other organizations, Robusta has also been paid more and more attention. Compared with Arabica coffee, Robusta has always been considered inferior coffee, but with the impact of climate change, it threatens the future of the coffee industry. Investing in Robusta production is becoming more and more important, especially since Robusta is more climate-resistant than Arabica. Robusta is currently being tried in some Arabica coffee-growing countries, such as Nicaragua. Coffee farmers are likely to grow more refined varieties of robusta. In the next few years, robusta coffee must have great potential, and with the increase in investment costs, the price will not change much in the future.
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