February 11, 2022

Coffee News Recap, 11 Feb: Tickets available for PRF Colombia, coffee prices hit 10-year high as ICO halves global surplus & other stories


Every Friday, Perfect Daily Grind rounds up the top coffee industry news from the previous week. Here are this week’s stories.

  • Mon, 7 Feb – Second Starbucks store opens in Cayman Islands. Caribbean Coffee Traders, Starbucks’ sole operating licensee in the Cayman Islands, opened the new store in central George Town. Starbucks intends to open a total of 15 stores in the Cayman Islands by the end of 2022.
  • Tue, 8 Feb – Finalists announced for 2022 Coffee Masters. The theme of this year’s competition is “New Beginnings”. Finalists include Matteo D’Ottavio from WatchHouse, Tetsuya Yamada from Climpson & Sons, and Nicole Battefeld-Montgomery of Rancilio Deutschland. Coffee Masters will be held at the 2022 London Coffee Festival from 31 March to 1 April.
  • Tue, 8 Feb – Registration opens for PRF Colombia. All PRF tickets include access to the 2-day event at Plaza Mayor, Medellín. The Origin Trip Experience ticket will include a four-day trip in Colombia’s coffee-growing regions. PRF Colombia will be held from 30 June to 1 July, with the Origin Trip Experience taking place from 26 June to 29 June.
  • Tue, 8 Feb – Starbucks fires seven Memphis employees involved in unionisation campaign. Starbucks claims the employees violated company safety and security policies by conducting an in-store interview with a local media outlet. The Starbucks Workers United union, which is currently representing two unionised stores in Buffalo, New York, has filed unfair labour practice charges against Starbucks.
  • Wed, 9 Feb – New EU-focused initiative set to increase Jamaican coffee exports. The Caribbean Export Development Agency will seek to improve the presence of the Blue Mountain and Jamaica High Mountain coffee brands throughout Europe. Caribbean Export consultants will carry out market reports throughout Europe to develop the most effective marketing strategies.
  • Wed, 9 Feb – ICO halves global 2020/21 coffee surplus estimates; coffee prices reach over ten-year highs. The ICO revised its global coffee surplus from 2.41 million bags to 1.2 million bags – mainly due to shipping container shortages and extreme weather impeding harvests.
    • Arabica inventories hit a 22-year low of over 1.06 million bags, while robusta inventories reached a more than 3-year low of 9,212 lots.
    • Arabica futures reached a high of US 258.95 cents/lb early this week, close to historic highs seen in November 2011. Robusta futures hit a 3 and a half week high at US $2,246/tonne.
  • Thu, 10 Feb – Vanusia Nogueira announced as new Executive Director of ICO. Nogueira also serves as the Executive Director of the Brazilian Specialty Coffee Association. She will succeed José Dauster Sette, who has led the organisation since 2017. Nogueira is the first woman to fill the role at the ICO.
  • Fri, 11 Feb – Italy becomes IWCA’s 30th chapter. Italy is the sixth majority consuming country to join the non-profit and will host the organisation’s second European chapter.
  • Fri, 11 Feb – PRF Colombia announces Mayorga Organics will be Diamond Sponsor. As the Diamond Sponsor of PRF Colombia, Mayorga Organics is supporting thousands of coffee producers, roasters, and industry leaders to connect and collaborate in Medellín. Founder and CEO Martin Mayorga will deliver a keynote lecture to more than 5,000 expected attendees, and be part of a wider number of networking events.
  • Fri, 11 Feb – 2021 Specialty Coffee Transaction guide published. The latest version of the guide includes data on over 57,000 green coffee contracts. The guide concludes that the median price per container of 83-point green coffee rose to US $2.00/lb in the 2020/2021 harvest, compared to the median price of US $3.70 per 1,000lb lot of 87-point coffee.

Here are a few news stories from previous weeks that you might find interesting. Take a look.

  • Thu, 3 Feb – Portable blender brand Blend Jet releases JetPack Lattes. The ready-to-blend latte products are available in Vanilla, Matcha Green Tea, Mocha, Caramel, Cinnamon Dolce, and Chai flavours. The new powdered latte products can be blended with water or milk (including plant-based options).

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Photo credits: Paula Andrea Molina Ospina