Covid-19 and the falling coffee price
Who would have thought about this? Even the price of coffee is being influenced by the Corona crisis. Far fewer people now drink coffee in the office or meet in a café. Coffee consumption has dropped significantly and with it the price of coffee on the world market.
The offices account for a large part of the coffee consumption. These are empty in times of Corona. Most of the employees are in the home office and therefore the in-house coffee machine stays cold.
But not only the offices are deserted, cafés and restaurants are also complaining far fewer visitors. In times of social distancing, no wonder, since people prefer to enjoy their coffee at home than meet friends in a public place wearing a mask and a tape measure.
Despite everything, a very good coffee harvest can be expected this year. A bumper crop of 10.6 million tons is expected by the USDA. Favorable weather conditions allow the coffee beans to grow.
However, there are problems again due to the Covid-19 pandemic, as there are far fewer pickers and processors working in the ports. Nevertheless, the net effects on the demand and supply side cannot yet be estimated, the ICO published.