By: Alexis Rubinstein, Managing Editor - Coffee Network
Soluble Coffee Sees Increased Global Demand Amid Inflation ConcernsCoffeeNetwork (New York) – As inflation drives up the price of most consumer goods, including coffee, consumers are looking to more affordable options for their every day selections. For coffee, this means looking at the less expensive Robusta options as Arabica prices rise. Historically, one of the most inexpensive means to consume coffee has been in soluble form, and as inflation fears grow, instant coffee has become more appealing.
Data from the Brazilian Association of Soluble Coffee (ABICS) shows that soluble coffee exports totaled 1.873 million bags in the first six months of the 2022 calendar year. While this is a slight (2.2%) decline from the same period last year, revenue from soluble coffee exports surged 34.6% for the period to total US $323.501 million.
The decline in volume was attributed to both the Ukraine/Russia war and continued logistical bottlenecks. However, strong increases were noted in other parts of the world like China and the US.
The consumption of soluble coffee in Brazil rose 0.2% to 478,998 bags in January-June, slightly above the 478,182 bags registered in the first half of last year.
For India, which also produces mostly Robusta coffee and is therefore a large manufacturer and exporter of instant coffee, a similar trend is being observed.
Last year, India exported 122,908 tons (2.048 million 60kg bags) of instant coffee. From the start of the calendar year until July 15th, India has already exported 67,807 tons (1.13 million bags), already 6% higher than the same period last year.
But even instant coffee isn’t immune to rising prices on supermarket shelves. Last week, the Daily Mail reported that in the UK, five popular brands of instant coffee have risen by 19% on average at four supermarkets. Small jars of Nescafe Azera are now 90g instead of 100g but prices remained unchanged in most supermarkets, the Sunday Times reported.
Data from the US Bureau of Labor and Statistics shows that Americans are also paying significantly more for instant coffee. Prices of the product shot up, on average, 8.7% is the first half of 2022 compared to the same period last year.
Alexis Rubinstein
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