Asia
Arabicas drop slightly while Robustas remain firmly above 120.00 US cents/lb
The ICO reports that Arabicas drop while Robustas remain above 120.00 US cents/lb in September; world economies and rising costs of living expected to impact consumption.
Robusta prices hit near record highs in August
The International Coffee Organization reports that Arabica-Robusta price movements recouple in August — Robustas remain at near record highs.
CoCo Fresh Tea & Juice reveals South Asia expansion plans
Boba tea brand, CoCo Fresh Tea & Juice, has unveiled plans to expand its footprint in South Asia, as global demand for the East Asian refreshment grows worldwide.
Sri Lanka Institute of Packaging introduces the first ‘Diploma in Packaging Technology’
Sri Lanka Institute of Packaging has introduced the first ‘Diploma in Packaging Technology’ that aims to pave the way for the next generation of packaging professionals.
JDE Peet’s Q2 2023 sales rise 2.4% to EUR €3.988M
JDE Peet’s reported that Q2 2023 In-Home sales grew organically by 2.2% and in Away-from-Home by 9.0%; transitions from international brands to local brands in Russia.
Starbucks Q3 2023 net revenues rise 12% to USD $12 billion
Starbucks’ Q3 consolidated net revenues grew 12% to USD $9.2 billion with Q3 international comparable-store sales rising 24% thanks to a 46% surge in comp-store sales in China.
Robusta prices hit a 28-year in June
The ICO reports that Robustas reached a 28-year high in June amid further narrowing of the Arabica-Robusta differentials.
As consumption continues to rise, the ICO expects another year of supply deficit
With global green bean exports falling 20.23% to 7.94 million bags in February, the ICO sees another year of supply deficit, with a shortfall of 7.3 million bags for CY 2022/23.
ICO reports reduced exports for current coffee year drove up prices in February
Reduced exports for current coffee year drive the ICO’s I-CIP up 11.4% in February 2023.
Coffee prices end 2022 on a stable note
The ICO reported that coffee prices close 2022 securely, coalescing at around 160 US cents/lb.
Despite a 12.3% setback in November, coffee prices stabilised
Although all average prices for all coffee groups fell in November, the I-CIP remained firm posting a median value of 156.83 US cents/lb.
Demand for energy-saving roasters grows as energy crisis deepens
Increased consumer awareness regarding sustainability combined with rising energy costs and global conflicts and economic challenges are fuelling the demand for more energy-saving and efficient roasting machines.
Arabica prices slip while Robustas record an uptick in final month of CY 2021/2022
ICO’s I-CIP remains range bound since March 2022, averaging 197.13 US cents/lb for the seven months ending in September.
Ally Coffee to open an office in Australia & expand operations in Oceania & Asia
Ally Coffee to open a new office in Melbourne, Australia and expand sales and logistics operations to Oceania & Asia.