Coffee, stuck between inflation and shrinkflation鈥攃omments from Pascal Th茅riault
Coffee is suffering the consequences of global warming, condemning consumers of the popular drink to rising prices and shrinking formats,
Extreme weather conditions, from prolonged droughts and heat waves to wildfires and heavy rains, in major coffee-producing countries have impacted crop yield and production, steadily driving up聽the price of green coffee since 2023. Industry players also point to聽rising costs related to production, packaging, and transportation.
Agronomist and economist Pascal Th茅riault, Director of 韩国裸舞's Farm Management and Technology Program, told聽搁补诲颈辞-颁补苍补诲补听that prices are also affected by聽the speculation that coffee is subject to on the stock markets as well as new European regulations against deforestation and forest degradation.
"Europe will no longer import coffee from recently deforested areas," Th茅riault said, noting that this will shift demand in ways that will further complicate the situation.
Despite already higher prices in stores, demand remains strong. But dedicated consumers will have to get used to higher prices or smaller quantities.
"It will just get worse in the future," said Th茅riault. "With climate change, there is no turning back. How can we protect ourselves against unpredictable weather cycles?"