JDE Peet's Set To Soar Coffee Prices In Brazil By 30% – CoffeeTalk

JDE Peet’s, a major coffee company, is set to increase coffee product prices in Brazil by an average of 30% next year, following a nearly doubling in prices this year on international commodity markets. Brazil is the world’s second-largest coffee-consuming nation after the US, and other coffee companies may also consider raising prices when their long-term contracts with retailers expire. Global coffee prices have soared to record highs this week and are up about 80% this year due to adverse weather in Brazil and Vietnam, the world’s top coffee growers. JDE Peet’s will raise prices for roast and ground, whole beans, soluble, capsules, and cappuccino. In the past five weeks, coffee prices on international commodity markets have gained about 30%. Coffee companies, particularly those selling primarily to supermarkets, have been struggling to pass on rising prices as consumers are increasingly seeking cheaper brews amid a cost of living crisis.

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