World coffee prices in recent weeks rose by about 25% due to the decrease of its production in Latin America.
As noted, the main reason is the decline of coffee production due to the extremely dry weather in Brazil, Peru, and Honduras, is the third largest producer of Arabica in the world.
Experts say that there are expectations of further growth of prices in the market. The international coffee organization predicts that production in 2019-20 MG will decrease by 0.9% to 167 million bags (1 bag — 60 kg), i.e. about 10 million t including the Arabica harvest may drop 2.7 percent to 96 million bags. This will be the minimum volume for the last four years.
In this regard, it is expected that global demand for coffee will increase. In particular, next year is projected to increase by 3% in the Asia-Pacific region, Europe — 1-2%.