Coffee price forecast 2023 (what is the coffee price prediction for 2023 + more information)

Did you ever think you’d have to forego $7 for a cup of coffee one day? With the uncertainty surrounding coffee prices, many people wonder, “What is the coffee price forecast 2023?” Read on to find out.

Coffee prices are likely to rise by 4.1% in 2023. Coffee sales and prices had previously hit rock bottom due to lockdowns and economic recession. Still, they have risen steadily in the past year, indicating a rising trajectory in 2023. As a coffee enthusiast, I’ve been following coffee-related news closely over the last few months, and things aren’t looking good. I’m bracing myself for a difficult period. I may have to brew my coffee at home because café-bought coffee will soon become prohibitively expensive. Keep reading this article if you want to know more about the price of coffee today, the prediction of coffee prices in 2023, and if the global production of coffee is set to go up this year.

What is the price of coffee today?

The current price of coffee is estimated to be $ 1.89 per pound. Coffee prices have risen slightly since last year when they were $1.87. The increase can be attributed to favorable weather, which has increased coffee bean production. The world has also recently recovered from a pandemic that halted everything, including the circulation of goods like coffee. As a result, the rise projections have come at a time when most businesses, including most coffee producers, are just picking up where they left off.

What is the coffee price prediction for 2023?

The coffee price prediction for 2023 is surrounded by a lot of doom. Coffee prices have dropped, with coffee selling for as little as $1.55, but many executives are anticipating a good year in 2023.

Previously, coffee was sold for $1.87, but prices have risen by a small percentage today, with coffee now selling for $1.89. Because there is hope for improvement in supply-side conditions, coffee prices are expected to rise by 4.1% in 2022/2023.

Is global production of coffee expected to go up in 2023

Yes, global production of coffee is expected to increase in 2023. Right now, the price has hit a high of $ 1.91. The areas producing coffee have had quite a struggle with dry weather. This is not the case now, as they are receiving adequate rainfall suitable for the growth of coffee. There is also a new crop of people who were not coffee lovers who now enjoy a cup of coffee, bringing the demand to a high, unlike in the recent past.

FAQ SECTION

Why is coffee price going down in 2022?

Coffee prices began to fall in October 2022, when the economy was still recovering from a major pandemic, and the weather did not favor coffee farmers at all. There was a dry spell that hampered coffee production and distribution.

Is the price of coffee affected by coffee shortage?

Yes, coffee shortages have a direct impact on coffee prices. When there is a scarcity, prices rise, and the product is scarce in the market. On the other hand, a large supply of coffee means lower prices.