Ukraine is expecting a significant increase in coffee prices. According to experts’ forecasts, wholesale coffee prices could rise by 40% by 2025. For retail consumers, this means a price increase of approximately 10–20% in the near future.
This is reported by Finway
Reasons for the Coffee Price Increase
The main reason for the price hike is the unfavorable weather in leading producing countries—Brazil and Vietnam. In Brazil, drought has caused a 10–11% decrease in yield, while excessive rain in Vietnam has led to a 10–20% reduction in coffee bean harvest. This has significantly impacted coffee volumes in the global market.
“Bad news for coffee lovers—due to drought in Brazil and rain in Vietnam, the coffee harvest may be quite poor. The harvest in Brazil has decreased by 10–11%, while in Vietnam it has dropped by 10–20%,” the publication states.
How Prices Will Change for Ukrainians
Currently, the price for 100 grams of whole bean coffee in supermarkets averages 80 hryvnias. However, due to the new wave of price increases, the price could rise to 96 hryvnias for a similar package. As for ground coffee, a 250-gram package, which currently costs 250 hryvnias, may sell for 300 hryvnias after the price increase.
Experts emphasize that last year’s price increase for Arabica was significantly higher—then the cost rose by 125%. However, this year’s trend will also force consumers to spend more on their favorite beverage.
Demand for coffee in Ukraine continues to grow. If in 2000 the average annual coffee consumption per person was only 0.2 kg, by 2018 this figure reached 1.2 kg, and by 2020 it was already 1.5 kg.
Coffee imports to Ukraine have increased by 63% over the past five years, and in 2020 the country imported 48.4 thousand tons of coffee worth 166 million dollars.