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The price of the mug is likely to rise in the coming months coffee farther Italian coffee roasters warn that this figure will increase significantly as the price of green coffee hits record highs due to factors such as climate change.
“The coffee market remains in a state of extreme volatility, with green coffee prices continuing to fluctuate wildly and experiencing unprecedented increases. Currently, green coffee prices are 245 cents per pound, up 66% from last year and more than double the same period last year.” This explains why a cup costs what it did three years ago. coffeeOver the past three years, we’ve seen a 15% increase in coffee consumed in cafés,” said Cristina Scocchia, general manager of the Illycaffè roastery in Trieste.
Cultivated land could be halved by 2050
Compared to other countries, a cup of espresso in Italy is relatively cheap, costing between 1 euro and 1.50 euros. According to media sources, Scocchia predicts that a cup of espresso will soon cost two euros due to the rising cost of green coffee. Scocchia warns that there are many complex factors behind the rising cost of green coffee; by 2050, the area under coffee cultivation worldwide could be reduced by half. “We are currently experiencing extreme weather events, from heavy rains in Brazil to droughts in Vietnam, which are severely affecting production,” the manager explains.
It’s not just the climate that’s causing problems for the coffee market. The coffee supply chain is also under pressure due to logistical issues, such as the recent blockage of the Suez Canal, which has led to increased costs and longer delivery times. This is further exacerbated by speculation about raw materials.
Scocchia stressed that Illycaffè’s production costs have increased by 17% in the 2022/2023 biennium. However, the company seeks to limit the impact on the final consumer. “At the moment we do not intend to increase product prices further to help our end customers. However, if the upward trend continues, we will have to reconsider this decision,” Scocchia concluded.
Italians spend 8 billion euros on coffee every year
for coffee Italians spend more than 8 billion euros per year, or about 392 euros per household. coffee– Capsules generate 595 million euros per year, while Mocha –coffee Sales amounted to 640 million euros. Espresso drunk in cafés had a turnover of 7 billion euros. Consumer protection association Codacons warned that the wave of inflation could affect Italians’ coffee consumption.
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