Coffee price soared breaking record on January 31, 2024 – Coffee demand of the world

Coffee prices simultaneously increased under pressure on “Super Wednesday January 31” – later today both the US Federal Reserve (Fed) and the Brazilian Monetary Policy Committee (Copom) will have an answer. market on important monetary policy decisions.

World coffee prices continue to be pushed up, robusta coffee prices increased to a record, while arabica coffee prices were the highest in over a month.

The Robusta – London market recovered in price near the end of the session even though it had previously increased significantly after a report from the General Statistics Office of Vietnam estimated that exports in January reached about 1 tons, up 210.000% over the same period. last year, due to concerns about Robusta supply from Asian countries.

In addition, major Robusta producers in Southeast Asia are facing the problem of slow deliveries to the European market due to transport congestion. This continues to push Robusta to record increases.

According to preliminary data from the General Statistics Office, Vietnam’s average export coffee price in January 1 reached 2024 USD/ton, up 2.955% over the previous month and up 2,3% over the same period. 35,2.

Experts predict that it is likely that coffee prices will continue to increase because inventories in the EU have decreased greatly due to the Red Sea incident. However, on the London exchange, the market is getting ready for a price correction this week as futures contracts have been overbought in recent weeks.


The map below was created by the CashNetUSA SavingSpot blog to check and compare the cost of a cup of coffee in countries around the world. To come up with the numbers, SavingSpot selected five coffee shops from each country’s capital city and calculated the average price of an espresso, latte and cappuccino based on data from Tripadvisor.

Accordingly, the city of Seoul, Korea is the place serving the most expensive cup of coffee at about USD 7.77/ cup, nearly 4 times higher than Vietnam. That amount is enough for you to drink coffee every day for more than 2 weeks in Tehran, the city selling the cheapest coffee at only USD 0.46/ cup. Meanwhile, the average price of this drink in the Iranian capital is USD 0.46. In the US, specifically Washington, coffee is sold for USD 3.77.

According to statistics, Finnish people consume 227 gr of coffee per week, 12 kg per year per capita, more than any other country in the world. Because it’s per capita, that number includes children and non-caffeine drinkers, so the actual amount consumed by coffee-loving Finns is likely to be higher. For people in this country, drinking 8 cups of coffee a day is completely normal.

Besides, neighboring countries such as Scandinavia or Norway also have quite high consumption levels, nearly 10 kg/ person. At the 6th rank is Sweden with 8.1 kg. Overall, Europeans seem to love this drink more than any other continent. In the ranking of 25 countries on the list, only 5 countries including Canada, Brazil, Cyprus, Lebanon and the US are outside Europe. The US ranked 25th with 4.2 kg/ person per year.