Coffee News Recap, 12 Jul: Arabica prices near two-year high, EU resists calls to delay deforestation regulations & other stories

Every Friday, Perfect Daily Grind rounds up the top coffee industry news from the previous week. 

Here are this week’s stories – the word of the week is EUDR.

Mon, 8 Jul

  • EU resists calls to delay upcoming deforestation regulations. Despite recent requests from the US government and ongoing concerns from coffee industry supply chain actors and stakeholders, European Environment Commissioner Virginijus Sinkevicius has given no indication of plans to postpone the EUDR. (Brussels, Belgium)
  • Caffitaly seeks debt deal with banks and owners. The Italian coffee machine manufacturer is seeking a debt restructuring deal with its lenders and shareholders. The company is also negotiating with banks and owners Alpha Group and Compagnie Nationale a Portefeuille as efforts to secure new capital have not yet been successful, according to sources. (Gaggio Montano, Italy)
  • Swiss coffee trader arrested in Guatemala on tax charges. Guatemalan news agency Prensa Libre reported the arrest of 68-year-old Ulrich Gurtner Kappler on tax fraud charges in June. The Swiss Department of Foreign Affairs (FDFA) are in regular contact with Guatemalan authorities and are providing consular support.

Tue, 9 Jul

  • Lavazza chairman warns coffee prices are likely to keep rising into 2025. In addition to poor weather conditions in Brazil and supply shortages in Vietnam, Giuseppe Lavazza emphasised how the upcoming EUDR is likely to push prices higher for consumers. In a recent interview, he stated some roasters have paid as much as US $1,000 over current futures prices for Vietnamese coffee. (Turin, Italy)

Wed, 10 Jul

Thu, 11 Jul

  • Ongoing conflict in Red Sea impacts Ethiopian coffee shipments. US importer Royal Coffee reports that carrier MSC is likely to have discontinued shipments from Djibouti following a series of missile attacks along the shipping route, which is likely to impact the availability of Ethiopian coffee for the foreseeable future. (Oakland, California, US)
  • New study finds Maine is cheapest US state for coffee. CashNetUSA analysed prices from 21,965 menus across the US to calculate the average price of a cup of coffee by state and city:
    • Maine is the cheapest state to buy a cup of coffee, with an average price of US $2.60
    • South Dakota is the most expensive state for coffee at US $3.79 per cup
    • Irving, Texas is the US city with the cheapest coffee, with the average price of US $2.13
    • Eugene, Oregon is the most expensive city to buy coffee at US $4.39

Fri, 12 Jul

  • Forest Coffee’s Huila Condor auction to take place from 23 to 27 July. The Huila Condor project is part of the Forest Academy and supports 96 independent female coffee producers through workshops to improve farming practices and quality. The auction will include washed, semi-washed, and natural categories, with all coffees receiving a minimum score of 86.5 points. (Bogotá, Colombia)
  • Second edition of Expo Cafeto will take place on 20 & 21 July 2024. Organised by Flick Producciones, the event will include a trade show exhibition featuring key players in the country’s specialty coffee market, public and private coffee tastings, and two competitions: Cafeto Brew Off and Cafeto Latte Art. (Córdoba, Argentina)

Here are a few coffee news stories from previous weeks that you might find interesting. Take a look:

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Want to keep up with current affairs in the coffee industry? Check out last week’s coffee news stories and make sure to read the latest Coffee Intelligence News & Opinion piece on how Jollibee’s acquisition of Compose Coffee shows how Southeast Asia’s coffee market is growing.

The post Coffee News Recap, 12 Jul: Arabica prices near two-year high, EU resists calls to delay deforestation regulations & other stories appeared first on Perfect Daily Grind.

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