HomeEconomyWorld coffee prices soar:...

World coffee prices soar: Robusta breaks records

Photo: pixabay.com

The rise in prices was influenced by concerns about declining yields in Vietnam, which is the largest producer of Robusta coffee.

Global prices for Robusta coffee have risen to their highest level in 45 years due to production shortages. In April, the price of such coffee rose 16.8% to $1.93 per pound, while prices for other coffees rose 14.8-17.8%, according to a report by the International Coffee Organization (ICO).

It was noted that the increase in prices was influenced by concerns about the decline of the harvest in Vietnam, which is the largest producer of Robusta coffee.

Vietnam’s drought has pushed local coffee prices to all-time highs as farmers and middlemen continue to hold onto stocks for a better deal after a poor 2023-24 harvest, if with Vietnam accounting for nearly one-third of the global supply of beans, according to Bloomberg. Robusta, used for instant drinks and espresso coffee.

The agency said Arabica prices did not rise much, which would help offset the price hit for coffee consumers.

It was previously reported that world cocoa prices have updated their historical record. Cocoa futures in New York hit a new historic record. The most active contract rose 5% to $11,578 per metric ton in early trading on Friday, April 19.

And at the end of April, the prices of cocoa beans fell by 26% in two days.

New Correspondent.net on Telegram and WhatsApp. Subscribe to our channels Athletistic and WhatsApp

Source: korrespondent

- A word from our sponsors -

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

- A word from our sponsors -

Read Now

Trump is consecrated with the leader of the war in Europe in Ukraine – The Guardian

US President Donald Trump will discuss with European leaders the opportunity to put an end to the war in Ukraine. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } This weekend,...

Tailand announced loss in Cambodia

The Thai Ministry of Defense was reflected in the military invasion of Cambodia. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } Today, on Saturday, July 26, the Thai naval fleet...

UAVs attacked the signal electronic plant in Rossi Stavropole (video)

Drones on Saturday morning, July 26, struck a signaling plant in the Russian Stavropol. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } One of the unmanned aerial vehicles fell into...

Ukraine and the Russian Federation organized in Zelensky with Putin – the head of Turcia Mid

Ukraine and Russia have reached a “fundamental agreement” at a meeting of President Vladimir Zelensky with dictator Vladimir Putin. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } The last meeting...

Russian night attacked Ukraine with 208 drones and 27 missiles (photo)

The country of the aggressor inflicted a new huge blow to Ukraine. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22 {width: 580px; Height: 400px; }} .Adsbygoogle {Touch-Action: Manipulation; } On the night of July 26, the enemy attacked 235...