Our morning cup of coffee may not be as invigorating as it was before as we may have to pay more for the cheerful beverage.
Wondering why?
Well, coffee prices are on the rise this year with the rates in India for arabica and robusta surging to record highs. According to the Trading Economics website, coffee prices have increased 32.23% since the beginning of 2024.
Robusta coffee prices are at a record high due to a supply shortage caused by a slowdown in shipments from Vietnam, the top producer. Demand for robusta has also been increasing as roasters are switching over from highly-priced arabica.
On the other hand, the pressure on the robusta coffee market has continued to fuel price hikes in the arabica market. Arabica prices are up over 20% and those of robusta 45% since the beginning of 2024.
Watch the full video to know more.