
The selling price of coffee on foreign exchanges is hitting record levels. Due to the acceleration of price increases in foreign markets, after April 2024, Albanian consumers are also expected to face an increase in the price of coffee in bars next year.
The Chairman of the Association of Bars and Restaurants, Enri Jahja, says that for several months the selling prices of coffee, especially robusta (which accounts for the majority of global production and consumption in our country), have increased, which is expected to be reflected in local bars as well.
Jahja predicts that the price increase will start in February next year, after new supplies.
The price of coffee on foreign exchanges has been increasing for months. This price increase is expected to be reflected in the price of coffee in bars and restaurants, especially robusta coffee, which is sold at a price of 60 or 70 lek.
"The price of its sale in bars is cheaper than Arabica coffee, which is bought more expensively abroad. Consequently, from February next year, the price increase in foreign markets is expected to be reflected in Albanian bars, especially in robusta coffee. The increase in the price of Arabica coffee is also expected to be inevitable, reflecting its changes in foreign markets," he claims.
Also, increases in coffee prices ranging from 10 to 20 lekë were reflected last year, according to the Bars and Restaurants Association, influenced by movements in import prices and the increase in the cost of increasing the employee salary fund.
According to data from the Ministry of Finance, 6,994 tons of coffee were imported for the period January-October. Compared to the same period last year, imports fell by 5.3%.
There are a total of 15.5 thousand bars in the country, down from 22 thousand in 2015, making it the second most popular activity in the country, after the retail business. According to data from the INSTAT business registry, 854 food and beverage service activities were closed in 2021, a decrease of 5.2%.
How has the price of coffee changed on the stock market?
On foreign exchanges on December 13, 1 ton of robusta coffee was sold for USD 5,194. The increase in the price of robusta coffee began at the end of April 2024, when the price reached USD 3,408 per ton compared to the price of USD 2,300 per ton in April 2023.
For 2024, the price of robusta coffee peaked on November 29 at USD 5,409 per ton, or 1.3 times higher than in November 2023.
An increase has also been recorded for the sale of arabica coffee in the markets. On the stock exchange, the current sale level for arabica coffee is 6,724 USD per ton from 4,347 USD per ton in November 2023. The price increase is 54.6%. While compared to the previous month, the selling price of coffee has increased by 10.1%.
The reason for the price increase is the problems with coffee production, especially in Brazil, where the drought in August-September and heavy rains in October damaged the coffee crop. This is expected to lead to a decrease in production in 2025. / Monitor.al