|Day's Range||117.00 - 122.90|
The price of coffee futures has been steadily on the rise over the last few years, but analysts expect the pace of growth to slow over the next two years as the need for restocking is tempered by a surplus in Brazil, one of the biggest growers of coffee in the world. Current prices are around $1.07 per pound, as of October 4, back near early August levels after slipping a little in the last two months. Plus, recent weather patterns disrupted the coffee harvest in South America, which is expected to weigh on the Arabica harvest in Brazil, according to some experts. A recent Reuters poll of 14 traders and analysts showed that the consensus expects global coffee supplies to move to a surplus in 2018 and 2019, with Brazil expected to see a record crop.
Persistently low coffee prices for producers across the globe are a serious threat to the commodity, said the CEO of Italian premium coffee maker illycaffe SpA, who expects prices to begin taking a toll on production in coming years. To adapt, the industry should focus on premium bean production, illycaffe's chief executive, Andrea Illy, told Reuters in an interview on Wednesday. "You would never even imagine thinking about basing the price of a bottle of wine on the price of grapes," he said.
HANOI/BANDAR LAMPUNG (Reuters) - Global coffee prices recovered but markets were subdued in Vietnam and Indonesia due to low stocks in both the countries, traders said on Thursday. In Indonesia's Lampung province, exporters quoted premiums for the grade 4 defect 80 robusta at $25 to $30 premium a tonne to London's November and December contracts, down from last week's $50 premium, a trader said. Another trader quoted the beans at $70 premiums to November and January contracts.
Italian coffee maker Lavazza will swallow the coffee business of U.S. food giant Mars Inc to expand its global reach, in a deal worth around $650 million, including debt. The two unlisted companies said on Monday that Lavazza had agreed to buy Mars Drinks, a business that includes Flavia and Klinx systems, two leading brands in the office coffee service (OCS) and vending machine segments. The groups did not disclose the financial details, but a source close to the matter told Reuters the deal points to an enterprise value for Mars Drinks of around $650 million.
It would be an understatement to say the coffee and sugar markets have seen better days. At $95, coffee futures have reached their lowest point since December 2005. The Brazilian real has gotten crushed of late, as concerns about the country’s upcoming Presidential election has caused the currency to fall to record lows against the U.S. dollar.
China announces retaliatory tax increases on $60 billion worth of U.S. imports, including coffee, honey and industrial chemicals. The increases are in response to the U.S. announcing it will impose tariffs on $200 billion worth of Chinese-made goods starting next week. The tariffs will start at 10 percent, then rise to 25 percent on Jan. 1.
Coffee producers are seeking urgent meetings with major customers such as Nestle, Jacobs Douwe Egberts and Starbucks to find ways to shore up prices that have slid to 12-year lows. The World Coffee Producers' Forum, whose members account for about 85 percent of global production, held a press conference on Monday after meeting to discuss the price crisis. "It is today a desperate moment for the 25 million coffee growers around the world.
HANOI/BANDAR LAMPUNG (Reuters) - Coffee prices in Vietnam edged up this week on scarce supplies, but traders said they would not climb further ahead of the new harvest next month. Farmers in the Central Highlands, the country's largest coffee growing area, offered coffee in a range of 33,000 dong -33,500 dong ($1.42-$1.44) per kg, compared with 32,500 dong-33,300 dong a week earlier. "Prices have risen slightly because inventory has run almost empty, while several exporters still need beans to fulfil their signed contracts," a trader based in the province of Dak Lak said.
The Bonaverde coffee machine takes raw, green coffee beans straight from a farmer, then roasts, grinds and brews them all in one machine for the freshest possible cup of coffee. Now, the machine has been upgraded to accept any coffee bean.
Keurig now has an answer for when you crave more than just a normal cup of coffee in the morning. Its new machines can make cappuccinos and lattes, and even froth the milk to mix with the drink. Both retail for less than $200.
The price of coffee futures has been steadily on the rise over the last few years, but analysts expect the pace of growth to slow over the next two years as the need for restocking is tempered by a surplus in Brazil, one of the biggest growers of coffee in the world. Current prices are around $.99 per pound, as of August 29, 2018, down over 17% over the last three months. Plus, recent weather patterns disrupted the coffee harvest in South America, which is expected to weigh on the Arabica harvest in Brazil, according to some experts. A recent Reuters poll of 14 traders and analysts showed that the consensus expects global coffee supplies to move to a surplus in 2018 and 2019, with Brazil expected to see a record crop.
Chances are you’re not lugging a heavy, gold brick into a coffee shop to buy your daily cup of joe. Glint runs a free-to-download mobile app of the same name. “We’re reintroducing gold as money,” said Ben Davies, Glint’s co-founder and chief operating officer, who, with Glint’s co-founder and Chief Executive Jason Cozens, demonstrated their marriage of old and new — gold and tech — at MarketWatch’s London office.
A £5 note believed to be worth £50,000 after it was engraved with an image of England captain Harry Kane is now in circulation Merthyr Tydfil - Wales. Artist Graham Short, one of the world’s leading micro-engravers, was inspired to make six of the special notes by Kane’s Golden Boot-winning exploits at the World Cup - one for each goal he scored in Russia. The artist has already spent two other notes into circulation in Meriden in the West Midlands and Elephant House in Edinburgh - the coffee shop where JK Rowling began writing her Harry Potter series.
J.M. Smucker Co. (sjm) said Wednesday it has signed renewable energy purchase agreement with Lincoln Clean energy for 60 megawatts of the power produced at the Plum Creek Wind Project in Wayne County, Nebraska. The owner of brands including Folgers, Smucker's and Cafe Bustelo coffee, as well as Dunkin' Donuts, Rachel Ray and Natural Balance, said that from 2020, it expects wind power from Plum Creek to account for about half of its total electricity use.
Thinking about taking a “summer Friday” to go to the beach, take a hike, or just sprawl on the couch reading and drinking iced coffee? Do it on a Wednesday instead. If Monday through Friday is your normal work schedule, you’ll feel more relaxed and refreshed after a mid-week break than you will after a…
Plus, recent weather patterns disrupted the coffee harvest in South America, which is expected to weigh on the Arabica harvest in Brazil, according to some experts. A recent Reuters poll of 14 traders and analysts showed that the consensus expects global coffee supplies to move to a surplus in 2018 and 2019, with Brazil expected to see a record crop. A rise in prices is bad news if you can't function without your morning cup of joe, but it's good news if you're invested in coffee stocks.
One year ago, a cup of coffee in Venezuela cost about 2,300 bolívares. Now it costs around 2,000,000. So the Venezuelan government is fixing the problem: It’s slashing five zeroes from its currency. The “solution” was announced last night (July 25) by president Nicolás Maduro. It’s part of currency reform that was scheduled for June…
Coca-Cola thinks it may have found a new drink that will give soda sales a shot of caffeine: Coke Plus Coffee. The version introduced in Australia has more caffeine than a regular Coke, but less than a cup of coffee, according to the company. Coca-Cola is trying to find ways to keep people interested in its namesake brand, even as it works to adapt its lineup of drinks to reflect changing tastes.
Agricultural products such as coffee, palm oil, sugar cane and cattle were linked to the most number of deaths, accounting for 46 out of 207 killings in 2017, a study by Global Witness found. The campaign group recorded double the number of deaths last year among defenders of land against agribusiness than in 2016, highlighting the increasing damage wrought around the world by some of the products consumers rely on every day. Outside of large-scale agriculture, mining was the next most deadly sector, with at least 40 killings while logging and poaching each resulted in 23 people being killed by companies or governments backing those industries, according to the report.
Lockheed Martin has just finished the final series of quality control tests for an enormous titanium dome meant to serve as caps for satellite fuel tanks. It's not just any ordinary dome, though: the enormous component measures four feet in diameter and is the company's biggest 3D-printed space component to date. This dome is large enough to seal fuel tanks bigger than humans and, according to Lockheed Martin, big enough to hold 74.4 gallons of coffee or 530 donuts.
Starbucks’ second-largest market after the US is China, where it has over 3,300 stores and operates with virtually no serious competition. A Beijing-based startup could change that. Luckin Coffee has opened 525 outlets across China’s major cities less than nine months after its launch (link in Chinese). Today the fast-growing company confirmed it’s closed a…
Italy's Lavazza said on Monday it would buy all of Australia's Blue Pod Coffee, as the coffee maker pushes ahead with a shopping spree that has allowed it to sharply increase its scale. After buying French brand Carte Noire and Denmark's Merrild, Turin-based Lavazza last year purchased Canadian organic coffee firm Kicking Horse, France's ESP and Italian coffee pods and machines company Nims.