Coffee bean prices rise Australian coffee prices may rise

According to a report on Oct. 9, with global coffee bean prices hitting new highs, Australians may have to pay more for their habit of drinking one cup of coffee a day.

The price of Arabica coffee beans soared to $2.208 a pound, the highest level since February 2012, according to a report by the Wall Street Journal (blog, Weibo). In Brazil, the world's largest coffee grower, drought and lack of rain led to a doubling of coffee prices last year. The weather forecast indicates that the dry weather will continue, which increases the worries of coffee farmers about the future harvest and pushes up coffee prices.

Industry insiders pointed out that the sharp rise in global coffee trade prices could have an impact on Australia's low-end market, including supermarket coffee and chain coffee. Peter Nikolakopoulos, head of Kaffeina Group, which sells Illy coffee in Australia, said the price of a cup of take-out espresso would rise to 5 yuan in the near future, but the increase only reflects labour costs and does not reflect higher prices in the global coffee trade. Nikrakboros also points out that professional coffee roasters in Australia usually have independent suppliers, so fluctuations in coffee prices are less likely to affect them. Take Illy coffee as an example, the retail price of expensive and high-quality coffee beans is 50 yuan / kg. 140 cups of coffee can be made per kilogram, so each cup of coffee is only 35 cents. However, the price of each cup of coffee is 5 yuan, which mainly includes labor, rent and electricity costs. "

According to the report, Brazil's recent coffee bean harvest is the lowest in three years. Earlier, Brazil experienced its worst drought in decades.