Coffee prices in Armenia will rise by 20-30% in the second half of autumn, which is due to the rise in prices on the international coffee market. This was reported to Sputnik Armenia by Tigran Hovsepyan, the founding director of the Paris Coffee company, which imports and sells coffee.
At the beginning of this year, it became known that exchange prices for Arabica coffee reached a record high of $8,000 per ton. March futures for Robusta coffee rose by more than 15%.
“From April to today, coffee prices on the international market have risen by approximately 15-22%. The exchange price of Arabica today is $8.1 per kilogram, and Robusta is $4.85 per kilogram. The price of coffee in Armenia has risen once a year. In November-December 2024, we still had coffee stocks in Armenia, purchased a little cheaper, so we raised the price in November by only 10%, but by that time the price of coffee had already increased by about 50%. We held the market at our own expense so as not to lose it,” said Hovsepyan.
According to him, the main reason for the price increase is the drought in Brazil, Colombia and Vietnam, due to which the harvest decreased. 20-30% of US customs duties also affected world coffee prices.
The same problem exists in the cocoa market. The main producing country is the Republic of Côte d’Ivoire, where weather conditions also changed, which caused cocoa prices to increase.
“Cocoa prices have doubled by almost 100% in a year. Now 1 kilogram of cocoa costs about $ 10. Against this background, the price of high-quality chocolate will also at least double,” he said.
Hovsepyan emphasized that there has not been such a rise in coffee prices since 1972.