-
Why Global Food Prices Continue to Climb
This article is republished from The Conversation under a Creative Commons license. Read the original article. Global food prices shot up nearly 33 percent in September compared with the same period the year before. That’s according to the UN Food and Agriculture Organization (FAO)‘s monthly Food Price Index, which also found that global prices have risen by more than three percent since July, reaching levels not seen since 2011. The Food Price Index is designed to capture the combined outcome of changes in a range of food commodities, including vegetable oils, cereals, meat and sugar, and compare them month
-
World food prices hit 10-year peak -FAO
PARIS, Oct 7 (Reuters) – World food prices rose for a second consecutive month in September to reach a 10-year peak, driven by gains for cereals and vegetable oils, the United Nations food agency said on Thursday. The Rome-based Food and Agriculture Organization (FAO) also projected record global cereal production in 2021, but said this would be outpaced by forecast consumption. FAO’s food price index, which tracks international prices of the most globally traded food commodities, averaged 130.0 points last month, the highest reading since September 2011, according to the agency’s data. The figure compared with a revised 128.5 for
-
Coffee shops face shortages of labor, cups, rising coffee prices
With frost in Brazil disrupting coffee bean production, the price of Arabica coffee beans surged by more than 40% in the past year to more than $2 a pound — a level last experienced in 2014. The price this month retreated to about $1.91 a pound. But a couple of local coffee shop owners say the climbing bean prices haven’t affected their businesses as much as increases in shipping costs, shortage of packaging materials, lack of workers and scarcity of plastic cups. Andrew Keim, the owner of Pioneer Collective Coffee in Massillon and Dalton, said the cost to ship coffee
-
SOFTS-Coffee prices surge as Brazil frost damage assessed
. LONDON, July 26 (Reuters) – Arabica coffee futures on ICE rose by 10% on Monday, climbing towards the prior session’s 6-1/2 year high, buoyed by concerns that strong frosts in Brazil last week may have done extensive damage to trees in the world’s top producer. COFFEE * September arabica coffee KCc1 rose 18.85 cents, or 10%, to $2.0785 per lb by 1000 GMT after peaking at $2.0795, just shy of Friday’s 6-1/2 year high of $2.0950. * Strong frosts reported over Brazil’s agricultural regions last week hit up to 200,000 hectares (495,000 acres) of arabica coffee farms, or 11%
-
Trending Headlines: Drought, markets, food prices & grasshoppers
This week’s Trending Headlines highlights the ongoing challenges facing ranchers in the western states including swarms of grasshoppers and increasing drought conditions. We also take a look at cattle markets and rising food and fuel prices. The blog wraps up with a look at Biden’s executive order to address competition in various industries, as well as an update on the farmer debt forgiveness program and the response from producers across the country. 1. “Cattle are competing against grasshoppers for food in the West’s historic drought. The bugs are winning.” by Rachel Ramirez for CNN Related: Legislation pushes back on Biden’s
-
Civil Unrest Pushes Colombian Coffee Prices to Record Highs as Supply Concerns HeightenDaily Coffee News by Roast Magazine
A worker harvesting coffee in Colombia. Photo courtesy of Those Coffee People. Since the beginning of the pandemic, the trajectory of Colombia’s internal coffee prices has defied expectations. The abrupt collapse in oil prices in March 2020 triggered a near 25% reduction in the value of the peso (COP) against the dollar. As coffee beans are purchased in dollars on international markets, the industry was able to benefit from the exchange rate arbitrage. However, even as the peso recovered some of its value against the dollar, internal coffee prices remained high over the previous 14 months. Now, with the
-
Probat to Raise Prices by 4.5% as Cost of Steel SoarsDaily Coffee News by Roast Magazine
Nick Brown | May 26, 2021 Daily Coffee News photo. Coffee roaster manufacturing giant Probat has announced it is raising prices, in part to offset the rising costs of steel and other raw materials used in manufacturing. The 4.5% net price increase on all Probat machinery, scheduled to take effect July 1, was announced earlier this month by the Probat group’s global headquarters in Emmerich, Germany. “The price adjustment is driven by significant price increases in the procurement of steel, sheet metal and components in particular, which Probat is currently experiencing,” the company stated. “In addition, the company faces a
/cloudfront-us-east-2.images.arcpublishing.com/reuters/OYKHEQPSPJOLBLASARQ4MG4AXY.jpg)
