Coffee prices today (August 15) on the world market decreased. Of which, the price of Arabica coffee decreased by 4.25% to 151.1 USD/ton.
Update world coffee prices
According to records, coffee prices on the world market have decreased. Specifically, the online price of robusta coffee in London for delivery in September 2023 was recorded at 2,620 USD/ton after decreasing by 1.95% (equivalent to 52 USD).
The price of Arabica coffee for September 2023 delivery in New York was at 151.1 US cents/pound after falling 4.25% (equivalent to 6.7 US cents) at the time of survey at 6:30 a.m. (Vietnam time).
Photo: Anh Thu
Prices of food items have spiked in recent times, with tomato prices touching Rs 200 per kg. Similarly, prices of several other items have also shot up, with the Indian government saying the main reason is seasonal factors.
Coffee is also on the list of commodities that have seen prices increase due to recent global shortages, according to Deccan Herald.
According to the report, shortages have been reported in countries like Brazil and Vietnam and additionally, the erratic monsoon this year in India has also contributed to the same situation, affecting domestic market prices.
In a recent report in Deccan Herald, coffee growers from the coffee heartland of Hassan, Chikkamagaluru and Kodagu expressed their displeasure over some of the major issues affecting them, including volatile global prices, climate change (excess rainfall even in the post-monsoon period and drought-like conditions in summer), human-animal conflict, rising investment costs for cultivation and denial of crop failure insurance, etc.
The price of regular mixed coffee grounds (a blend of robusta and peaberry) has increased from around Rs 580 per kg to around Rs 640 to Rs 650 per kg, said a resident of Mumbai's Matunga Lata Aaravind.
GM Dharmendra, a wholesaler of green coffee (raw beans) from Bengaluru, said he has lost 30 to 40 percent of his business in the past few months. “Many small coffee retailers in the area have either closed down or are buying inferior quality coffee at cheaper prices. Many customers have switched to instant coffee,” he said.
Despite some positive reports of a better crop in Brazil, Arabica prices have started to ease a bit in the international market, Challa Srishant, a member of the Coffee Board of India, said. Domestically, regular buyers will continue to be squeezed due to the above factors and mainly lower production.
“Since 2018, coffee growers in 10 taluks in these districts have been suffering due to excess rainfall, shortage of labour and volatile prices. However, none of their elected representatives have raised their voice in the Assembly or Parliament,” said BS Jayaram, President of the Karnataka Coffee Growers Federation (KCGF).
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