Coffee will cost us all more

The price of coffee is being adversely affected by the global Coronavirus as countries stockpile coffee in case of supply chains are hit by the virus.

Importers in major coffee drinking nations are bringing forward orders by up to a month to try and avoid shortages.

Prices are heading upwards because of strong demand amid expectations that supplies will tighten further in the coming months.

Prices in Brazil are close to record levels – nearing £85 per 60kg bag. Supply chains are backing up because of severe restrictions on international movement. This comes despite Brazil reporting one of its best ever harvests of coffee beans with around 70 million bags being harvested.