Global coffee prices up 40 per cent - Bloomberg

A low coffee harvest has provoked a rise in the price of the drink, Bloomberg reports.

According to experts, the variety of Robusta rose in price by about 40% in the first six months of this year, which has already affected prices in coffee shops.

It is noted that the reason for the rise in price was drought. In particular, in Vietnam, which is one of the major coffee experts, for a long time kept high air temperatures, which adversely affects the quantity and quality of the crop of coffee beans.

Brazil also announced a decrease in exports. They point out that due to low yields they are preparing to reduce the supply of Arabica to the world market.

Experts emphasise that the rise in coffee prices will continue and point out that the US plans to buy 5.6 million bags of coffee more than before, which will also affect pricing on the world market.

In Ukraine, coffee prices also increased in June. It now sells on average for 361.15 UAH per 210 grams. Last month it could be purchased for 352.43 UAH.