You may well have seen in the press recently that coffee prices on the global markets have reached an all-time high.
See the following recent article for a deeper understanding https://sprudge.com/coffee-futures-prices-continue-to-skyrocket-reach-4-30-274057.html
We want to reassure you that although the industry will have no choice but to increase prices, we are working hard to keep these adjustments to a minimum, but also making sure we are sustainable as a business.
The recent surge in coffee prices on the C-market is a complex issue with far-reaching implications. As you know, the C-market serves as the global benchmark for arabica coffee prices, and its fluctuations impact coffee markets worldwide.
The dramatic price increases we’ve seen in the coffee market over the past few months are primarily due to an anticipated global coffee supply shortage. This shortage is driven by factors such as climate change, severe drought in major coffee-producing regions. Using Brazil as our example, who are responsible for supplying in excess of 40% of the world’s arabica coffee, suffering lower than expected yields has caused a shift in momentum amongst the specialty coffee industry.
A year ago, the coffee price was around $1.90 per pound, and now it is over double that price, reaching a record high of $4.35 per pound last week. Most of our specialty coffee which we contracted for this year has increased by 25-30%
But what does this mean to you?
Unfortunately, this means that we have to increase our prices from the 1st March. We understand that price increases are never welcomed, especially during these challenging times, and it is a decision we have not taken lightly.
However, we also have some good news. We’re excited to announce that we will soon be launching a new website and a new subscription service. With this new service, you’ll have the ability to manage your subscription entirely on your own. You’ll be able to easily pause, skip, or cancel your subscription at any time through your account. Additionally, you’ll continue to enjoy our core and new coffees at a discounted cost.
We’ll keep you updated on the launch date and provide more details as they become available.
We appreciate your understanding and continued support.