Coffee futures have risen nearly 70% this year, and international coffee giants have adjusted their prices one after another.
Asdak News Agency, June 9, the rare El Ni ñ o in years led to a continuous drought in Brazil, seriously affecting the production of raw coffee beans in the country. Since January this year, ICE Arabica coffee futures have risen nearly 70%.
The food giant has been forced to raise the price of finished coffee, with NASDAQ:KRFT announcing on Saturday that it would raise retail prices for roasted and ground coffee by an average of 10 per cent.
J.M. Smucker Co (NYSE:SJM), the largest maker of bagged coffee in the US, also said last week that it had raised the prices of its products in the US market by an average of 9 per cent, including well-known brands such as Folgers and Dunkin "Donuts."
In China, A-share listed company 600572.SH, which is involved in the coffee business, produces three categories of coffee products, including instant coffee and coffee bean powder, with raw beans from Yunnan, according to its website.
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Rainforest Ecological Coffee Manor built in Aigu, Yunnan
Engaged in the coffee industry for nearly 30 years, after Aidan Group successfully brought Yunnan coffee into the international coffee market, in order to further improve the quality of Yunnan coffee, enhance the influence of Yunnan coffee in the international and domestic coffee market, and build a national brand of Chinese coffee, Aiyi Group will rely on the green resource advantage of Yunnan Pu'er and plan to invest 600 million on the basis of the established green circular economy chain.
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ICE sugar barely changed on June 9, while coffee futures fell.
ICE Arabica coffee futures fell to their lowest level since the end of February on Monday, giving up Friday's gains as speculators took short positions as uncertainty remained about the damage to crops caused by Brazil's drought.
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