The executive president (CEO) of Grupo Nabeiro – Delta Cafés admitted this Wednesday that it is “absolutely clear” that instability in the coffee market will have an impact on consumer prices.
Rui Miguel Nabeiro spoke to reporters at the end of the event in Lisbon, which unveiled the group’s major innovations, including new product categories including Swee ice cream, Ootie smoothies and Unboring snacks.
When asked whether volatility in the price of coffee raw materials could affect the amount a consumer will have to pay in the near future, the CEO admitted that it would. “I would say it will absolutely happen,” he said.
“We can’t single-handedly drive a 200% year-on-year increase in Robusta coffee sales,” the manager continued.
The CEO says it is “absolutely impossible” for the group to “adapt” to rising commodity prices on international markets, bearing in mind that even cocoa prices are rising.
“All commodities are rising strongly again” for several reasons, including speculative factors.
“We are not speculators, we have to buy coffee, we have to roast coffee, and the prices that have to be paid,” he continued, noting that “for the first time in history, Robusta coffee is more expensive than Arabica coffee.” coffee”.
Vietnam is one of the largest producers of the Robusta variety, which has a “very short production period.” Northern Europe, with “increasing coffee prices,” traders say, began to introduce Robusta coffee, which was cheaper, into its blends.” and consumers didn’t complain, he explains.
And suddenly “the price of Robusta went up and this happened” and it became more expensive than Arabica.
Author: Lusa
Source: CM Jornal
I’m Tifany Hawkins, a professional journalist with years of experience in news reporting. I currently work for a prominent news website and write articles for 24NewsReporters as an author. My primary focus is on economy-related stories, though I am also experienced in several other areas of journalism.