The price of coffee is set to rise from its current record high as climate change, shipping disruptions and new EU regulations drive up costs for roasters, Italian coffee giant Lavazza has warned.
London robusta futures, the global benchmark, reached a high of $4,844 per tonne on Tuesday, having soared about 70 per cent over the past year due to poor harvests in the world’s main growing countries in south-east Asia.
However, Giuseppe Lavazza, chair of Lavazza Group, which owns Lavazza coffee, said the price of coffee on UK supermarket shelves, which is already up by around 15 per cent this year, could rise close to another 10 per cent from here by next year.
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