Coffee in Russia will rise in price by 20-30% by the end of 2024, Kommersant writes, citing market participants.
According to the publication, one of the reasons is the decline in coffee harvest volumes due to drought in Brazil and Vietnam . Because of this, stock exchange prices for unroasted coffee beans have increased.
“Exchange prices have almost doubled over the past year, and by 42% over the past six months, to $2.7 per pound (0.45 kg), reaching a 13-year high,” the publication says.
The publication’s sources claim that at the moment in Russia this price increase is not fully included in the cost of the product on store shelves and the finished drink in coffee shops.
Previously, RIA Novosti, citing data from the Russian Grain Union (RGU), reported that in the first 20 days of September, the volume of deliveries fell by 18.7% compared to the same period last year, amounting to 4.09 million tons.
Earlier, Mishustin called for refraining from excessive optimism.