“The price of coffee, similar to other products, has risen in recent months. On an annual basis, coffee prices on the stock exchanges have risen by almost 100%. This is the result of supply concerns and major transportation problems around the world. Ongoing climate change is also contributing to the occurrence of an increasing number of climate anomalies”, XTB analyst Nuno Mello told Lusa.
At stake are, for example, persistent droughts or “high thermal amplitudes”, which end up destroying crops, as was seen in Brazil, the world's largest coffee producer.
Brazil was the target of prolonged frosts, followed by droughts, which led to the disappearance of many coffee trees, with production drops, compared to a normal season.
Added to the impacts caused by transport, namely, with the increase in delivery times up to more than 100 days. “Transportation of Brazilian coffee to the rest of the world was affected, as the same ports are used for the shipment of soybeans, sugar or coffee,” he explained.
However, Portuguese consumers should not see this increase reflected in the price of coffee, not even in the face of rising input costs or drought.
Nuno Mello also explained that the price of coffee in a cup only represents between 1% and 2% of the total value, so the annual increase in raw material prices “should not translate into strong increases in final products”.