July 22, 2022

Coffee News Recap, 22 Jul: Brazil arabica prices highest since 1997, Colombian coffee production down 10% in June & other stories

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

Mon, 18 Jul

  • Sensory Summit announces speaker line up for European event. Speakers at the coffee sensory science event will include founder of the Coffee Excellence Centre, Professor Chahan Yeretzian, and three-time Swiss Barista Champion and co-founder of MAME Coffee, Mathieu Theis. The Sensory Summit will be held at the Zurich University of Applied Sciences (ZHAW) from 5 to 6 September 2022.
  • Starbucks reportedly exploring sale of UK business. The coffee chain says it is “not in a formal sale process for its UK business”, but the Times newspaper claims Starbucks is working with New York financial advisers Houlihan Lokeyheld to explore potential options for the UK branch of the company.
  • Colombian coffee production falls 10% in June 2022. The National Federation of Coffee Growers of Colombia (FNC) says 951,000 60kg bags were produced in June this year, compared to 1.1 million bags in June 2021. However, overall coffee exports grew 6% in June 2022 compared to the same month in the previous year.

Tue, 19 Jul

Wed, 20 Jul

  • Coffee futures reach nine-month high. Future arabica contracts for September closed at 215.20 US cents/lb earlier this month, while robusta prices rose by 3.6% to US $1,992/tonne. Price increases are attributed to the US dollar appreciation against the Brazilian real.

Thu, 21 Jul

Fri, 22 Jul

Barista pouring latte art

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

  • Wed, 13 Jul – Starbucks to close 16 locations in the US. The company is closing six stores in its hometown of Seattle, as well as locations in Los Angeles, Portland, Washington D.C., and Philadelphia. Starbucks claims the closures are attributed to staff safety measures.
  • Thu, 14 Jul – NCA requests federal funding for coffee research and development. In two letters sent to the Senate Appropriations Committee, the NCA requested US $500 million in fiscal year 2023 for the USDA’s Agriculture and Food Research Initiative, US $240 million for international agricultural R&D, and encouragement of coffee-focused agricultural research in the fiscal year 2023 US budget.
  • Fri, 15 Jul – Restauranteur set to become co-owner of Starbucks Russia’s coffee shops. Anton Pinskiy will partner with Sindika holding company and Russian music artist Timati to take ownership of Starbucks Russia (which will be rebranded upon completion of the sale). The coffee chain closed all of its 130 stores in late May 2022 after the invasion of Ukraine.

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Want to keep up with current affairs in the coffee industry? Check out last week’s stories.

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