Coffee bean prices are rising and expanding, with Arabica futures hitting their highest level since 1977.

November 27, 2024 21:25 JST
Robusta beans also saw an 85% increase in year-to-date, with major production areas facing supply concerns.
Nestle announced price increases and reduced content this month in response to soaring raw material prices.
Coffee futures prices surged in the New York market, reaching a 47-year high.
In the trading on the 27th, the futures of luxury variety 'Arabica' coffee beans temporarily rose to 1 pound = 3.1845 dollars, reaching the highest level since 1977 as a near-term contract. The year-to-date increase rate has reached about 70%.
In the so-called Coffee Belt, there was a drought during the growing season and heavy rain at the beginning of the harvesting season, causing concerns about the supply from Vietnam, a major producer. Brazil has also been hit by a severe drought, intensifying supply concerns.
These developments are increasing the impact on the coffee industry, but ultimately costs will be passed on to consumers. Nestlé, the world's largest coffee maker, this month indicated a price increase to mitigate the impact of rising coffee bean prices, along with a policy to reduce the content per unit.

Another variety of coffee beans, the Robusta species, has risen by about 85% since the beginning of the year in the London market.