Coffee prices to record high

29th July 2010, 13:28
The raw coffee prices have increased by 30 percent through July, the hope is now on the Brazil crop
Vienna - The world market for coffee has great turmoil currently suspended. Concerns about shortages of the Robusta and Arabica varieties, the prices were on the commodity exchanges in London and New York in the year by 30 percent to skyrocket. Simultaneously, the worldwide coffee consumption, since the year 2000 world quarter.
By the International Coffee Organization (ICO), calculated average price for green coffee in June 2010 rose to 142.2 cents per pound - that's the highest number since the price monitor is created. Compared with June 2009 (119.1 US-Cent/Pfund), this means an increase of 20 percent. By the end of July is the raw coffee price continued to rise to 153.4 cents, an increase of 30 percent over the previous year.
Record prices for arabica beans
Especially high-quality Arabica beans achieved record prices: with 224.5 cents in June 2010 we had a pound for Arabica pay more than twice as much as four years ago (2006: 105.8 US-Cent/Pfund). As a special cost for the European coffee sector is the weak euro against the dollar added. This is of course good news for people having coffee for sale offered to these markets.

Declining supplies from producer countries, notably Colombia and Vietnam, the stocks of the international coffee exchanges have, according to experts shrink concern. The inventories have been reduced drastically in recent months, said the managing director of cafe + co, Gerald Steger, told the APA. Steger expected price increases for consumers at present - not yet - who were the current purchases of the coffee roaster backed by ongoing contracts.
In particular, Colombia, traditionally the second biggest coffee producer after Brazil and also the most important sellers of the mild variety popular in Austria Arabica, has in recent years brought fewer crops and has now slipped behind Vietnam and Indonesia ranks fourth among the major producing countries.
2009 was at 7.8 million bags of 60 kilograms in Colombia, the lowest amount harvested the last 33 years, up from 11.1 million bags 2008th Reasons for the setbacks in coffee cultivation in Colombia are heavy rains, the weather phenomenon El Nino, has become more costly fertilizers, insect pests and leaf diseases.
Nationwide reconstruction program
In addition, a nationwide long-term rebuilding program decimated in favor of planting new shrubs coffee harvests in recent years. Because of the modified low coffee prices also many farmers have moved on to the illegal cultivation of cocaine. However, the weather conditions improved so that it could be in the new year 2010/11 was expected to yield greater of 10.5 million bags, analysts said.
But the world's largest supplier of used primarily for the classic espresso Robusta - Vietnam - had modified crop failures. The sales are currently around 20 percent below the previous year. Moreover, preventing an exceptional drought in Uganda, Africa's leading coffee producer, this year the performance of the crop forecasts.
All hope is currently Brazil, although experts expect that previous predictions were screwed on the new harvest is too high. The harvest would still be good, and if enough green coffee comes in the autumn on the market could relax until the end of the prices, hoping Steger.
Stable production expected
The ICO in London pays for the outgoing 2009/10 season with a stable global generation of 120.6 million bags and is only for 2010-11 again an increase to 133-135 million bags in sight. Significantly to this increase should help Brazil can be expected where a 2010-11 harvest of around 50 million bags, which would mean an increase over the previous year of more than one million bags.
At the same time, the worldwide coffee consumption is increasing steadily. According to data of the ICO were last year consumed 132 million bags of coffee - 25 percent more than 2000th For 2010, experts expect despite the economic crisis with a further increase to 134 million bags.
cafe + co belongs to Leipnik-Lundenburger Invest AG, employs 1,200 employees and currently operates with 17 subsidiaries in twelve countries. With up to 5,000 tonnes of green coffee per year, the company is one of the largest coffee buyers in Austria. To control the coffee price fluctuations, contrary wants cafe + shop now co-producing more directly to sustainable plantations. Of the currently about 500 million coffee pods, each year the café + co-units are to be consumed, 200 million medium term come from sustainably harvested.