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☆ Your latte could get even more expensive, thanks to a drought in Vietnam that's strangling coffee bean production
▼ + stars: | 2024-04-26 | by ( Meghan Morris | ) www.businessinsider.com time to read: +2 min

Robusta coffee futures hit a 16-year high because of a prolonged drought in Vietnam. The robusta coffee variety is the basis for both espresso and instant coffee. A long, El Niño-induced drought in Vietnam pushed up the price of robusta futures on Wednesday to the highest in at least 16 years, Bloomberg reported. This year's drought in Vietnam could continue the low-supply cycle, hurting next year's production. Vietnam is increasingly importing cheaper robusta from Brazil to satisfy soaring local demand from coffee drinkers, Bloomberg reported in March.

Persons: —, El Niño, Tran, Lan Anh Organizations: Service, Bloomberg, US Department of Agriculture, Co, International Coffee Organization Locations: Vietnam, Brazil, Asia, Europe, mocha

☆ In China’s battle of the lattes, Luckin Coffee keeps beating Starbucks
▼ + stars: | 2024-02-26 | by ( Laura He | ) edition.cnn.com time to read: +5 min

Luckin, which already calls itself China’s biggest coffee chain, says it had surpassed Starbucks in mainland China by number of outlets in 2019. By the end of 2023, Luckin had 16,218 stores in China, nearly double its 2022 count of more than 8,200. Starbucks’ outlets in China are entirely company-owned. The number of branded coffee shops in China jumped 58% in the past twelve months, reaching 49,691 outlets, according to a December report by World Coffee Portal. Making a comebackBy 2019, the company had outnumbered Starbucks stores in China, with more than 4,500 outlets, according to the company.

Persons: Luckin, ”, Jinyi Guo Organizations: Hong Kong CNN, Nasdaq, Starbucks, CNN, International Coffee Organization, Daxue Consulting, Visual China, Centurium, US Securities and Exchange Commission Locations: China, Hong Kong, Singapore, Xiamen, United States, Beijing, New York, American

☆ Gorongosa National Park: How coffee is helping to restore an ecosystem
▼ + stars: | 2023-09-06 | by ( Kayla Smith | ) edition.cnn.com time to read: +6 min

Mozambique’s efforts to become a coffee powerhouse are thanks in part to the Gorongosa Coffee Project. Gorongosa coffee is exported mainly within Africa, with South Africa its biggest market. Gorongosa MediaJuliasse Sabao, supervisor of the Gorongosa Coffee Project, says that before coffee came to the national park, many people there were subsistence farmers growing just enough maize, beans, and peas to feed their family, with little surplus to sell. Vasco Galante, the national park’s director of communications, believes the revival of Gorongosa National Park is one of Africa’s greatest wildlife restoration success stories. Wana Chipoya, a Zambian agronomist working with coffee, recently visited the national park and was very impressed.

Persons: Juliasse Sabao, ” Sabao, Sabao, Sofia Molina, Molina, ”, ’, they’ll, “, Vasco Galante, Wana, “ I’ve Organizations: CNN, International Coffee Organization, Gorongosa Locations: Africa, Ethiopia, Kenya, Mozambique, –, South Africa, ”, Zimbabwe, Tanzania, Malawi, Zambian

That surge in demand and limited supply contributed to higher prices. But diners will likely still pay higher menu prices than they were last year. Dutch Bros. Coffee CEO Joth Ricci told CNBC that most coffee businesses hedge their prices six to 12 months in advance. However, Zandi said, if the job market remains strong, inflation eases and wages grow, Americans can better manage higher prices for airfare and other items. Several hot pandemic items, including TVs, computers, sporting goods and major appliances have dropped in price, according to Labor Department data from December.

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