The increases in the international cost of coffee are felt in the cup of coffee, which in large cities now stands on average at 1.2 euros (1.18 to be precise). Re-elaborating the Mimit data, Assoutenti reports that only 3 years ago, in 2021, the average cost of espresso was 1.03 euros and that therefore there was an increase of approximately 15%.
International markets and the role of finance
In addition to the need for merchants to try to pass on to consumers the increases they have suffered in recent months, starting with energy bills, the story also has roots in international markets. Where it is intertwined with that of cocoa. Just a few days ago, the financial agency Bloomberg in fact, it traced new peaks in the prices of cocoa and coffee futures, linking them to “growing fears of extreme climatic conditions”, coupled with the aging of trees in cocoa crops in Africa and in coffee areas in Vietnam. A factor that prevents the increase in production.
Cocoa futures in New York reached levels not seen since 1960, with prices driven by declining production from Ivory Coast and Ghana, exceeding the threshold of 10 thousand dollars. As for the Robusta blend, however, what is frightening is the drought in Vietnam which predicts lean times for the October season. Bean shortages have pushed prices to a new high since 2008, this time in London. Furthermore, as often happens in these circumstances, the financial mechanisms have also exacerbated the trend: the price of coffee has been affected by the fact that hedge funds have exited the cocoa market, precisely because of the prohibitive pieces, pouring into coffee and thus influencing its prices.
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At this point, says Assoutenti, there are now few cities where you pay less than 1 euro for the daily ritual at the start of the day. And importers and roasters are sounding a further alarm: the “perfect storm” is unleashing on prices. Therefore, further price increases are on the horizon and there is now very little way to go to reach 2 euros per cup.
Altoga, the national association of roasters, coffee importers and food wholesalers adhering to Federgrossisti-Confcommercio, explains that in the last 6 months the stock market prices of Robusta coffee have practically doubled: they have recorded an increase of over 90% (from 2,200 to 4,195 dollars per ton), and those of the Arabica variety of 55% (from 155.25 to 239, 85 cents a pound).
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Among the causes of this surge, experts also cite the adverse weather conditions in Brazil, the unfavorable exchange rate due to the strengthening of the dollar against the eurowhich has affected the cost of coffee by up to +4% in recent months and finally the need to avoid passage through the Red Sea resulting in an increase in travel times and costs. Factors which, overall, impact coffee import costs by up to 50% more than 6 months ago.
In Bolzano bitter coffee
Returning to the bars, among the main cities, Bolzano is the one that holds the record for the expensive coffee at the bar, with an average price of 1.38 euros per cup, followed by Trento (1.31 euros) while Catanzarowith an average of 0.99 euros, is the cheapest city, thus even surpassing Naples (1.05 euros).
The highest increases in Pescara and Bari
However, if we compare today’s price lists with those in force in 2021, we discover that the province that has suffered the greatest price increases is Pescarawith the average price rising from 1 euro to 1.28 euros and an increase of +28%, followed by Bari with +24.4%.
“We fear that the increases in coffee prices could lead to price increases in the coming weeks both for drinks at bars (coffee, cappuccino, etc.) and for powdered coffee sold in supermarkets. – states the president Gabriele Melluso – Also a few cents of increase would cause a blow to consumers’ pockets, considering that in Italy around 6 billion coffees a year are served in public places for an espresso turnover of around 7 billion euros per year”.
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– 2024-04-28 09:51:01
