They attributed it to the decline in demand, especially in European markets

Companies: Global coffee prices have decreased by 17% since the beginning of the year

Companies expected, on the sidelines of the "Coffee World Dubai 2023" exhibition, to increase prices during the second half of 2023. From the source

Officials of companies specializing in the supply and trade of coffee reported that international prices for the supply of coffee have recorded declines, ranging between 15 and 17%, since the beginning of this year.

They told "Emirates Today" on the sidelines of the second session of the "World of Coffee Dubai 2023" exhibition, which concluded its activities yesterday, that the price drop began gradually at the end of last year, attributing this to the decline in global demand, especially in European markets due to the impact of the Russian-Ukrainian war. .

In detail, Issius Adams, Marketing Director of KitBusiness Group, said that coffee supply prices have recorded gradual declines since the end of last year, as they have decreased by 15% since the beginning of the new year.

He explained that the main reason for the decline in prices is due to the increase in supply in the global markets and the decline in demand, especially in the European Union countries.

He added, "According to the current indicators, it is expected that the markets will witness rates of decline and relative stability during the first half of this year, before returning to their previous levels during the second half of the year, in light of expectations that production levels will be affected in the Brazilian coffee crop."

For his part, Asriel Dejva, CEO of the international "Kirnchash Coffee" company, considered that the current decline in coffee prices will continue for a temporary period due to the lack of global demand with the current abundance of supply.

He explained that the decline in coffee supply prices has ranged between 15 and 17 percent since the beginning of the year, indicating that its direct effects on the retail sector will take some time.

In turn, the technical sales representative of the “Emma Coffee” company, Ahmed Hamaidi, confirmed that there has been a decline in international coffee supply prices by rates that have reached 17% since the beginning of the new year, indicating that the reasons for the decline are due to the decline in global demand, especially in European markets, due to Effects of the Russian-Ukrainian War.

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