Lavazza predicts coffee prices to rise for another year due to poor harvests, geopolitical conflict, and supply chain disruptions.
Coffee prices are expected to continue rising for at least another year, according to Italian coffee giant Lavazza. Giuseppe Lavazza, vice chairman of the company, admitted his previous prediction that prices would begin to fall this year was incorrect. Poor harvests, particularly in Brazil and Vietnam, geopolitical conflict, and supply chain disruption have contributed to prices reaching record 15-year highs. UK coffee lovers can expect prices to not drop until at least mid-next year due to "very challenging headwinds" in the industry.
July 09, 2024
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