Bengaluru hotel owners mull price hike for Tea, Coffee by Rs 2 after Deepavali 2024
After Deepavali, Bengaluru consumers face a Rs 100 hike in coffee prices, with tea powder also increasing. This marks the third price rise this year, driven by failed crops and rising cylinder and milk costs. Consumers may soon feel the impact on their daily beverage expenses.
FollowAfter Deepavali, the cost of coffee and tea is poised to hit Bengaluru consumers hard. The Indian Coffee Traders Association (ICTA) has announced a Rs 100 increase in the price of coffee per kilogram, and tea powder prices have also surged. This marks the third hike in tea and coffee prices this year, attributed mainly to rising cylinder and milk prices. However, traders are committed to considering customer interests before finalizing any price adjustments.
The Greater Bengaluru Hotel Owners Association has yet to determine the extent of the price increase. Currently, a cup of coffee or tea in regular hotels ranges from Rs 15 to Rs 35, while luxury hotels and cafes charge over Rs 100. General hotels are contemplating a modest increase of up to Rs 2 per cup.
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The recent surge in coffee prices is largely due to failed crops caused by extreme weather conditions, leading to a shortage of coffee powder in the market. Earlier this year, coffee powder mixed with chicory was priced between Rs 200 and Rs 250 per kilogram. Now, prices have skyrocketed, with robusta coffee powder rising by Rs 200 to Rs 420 per kilogram, and Arabica coffee powder increasing by Rs 290 to Rs 465 per kilogram. The chicory-free coffee powder has reached up to Rs 750 per kilogram, prompting the ICTA to implement another Rs 100 hike.
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In addition to coffee, the price of tea powder has also risen by Rs 40 to Rs 50 per kilogram. Alongside these increases, the price of milk has gone up as well. Traders warn that following the coffee price hike, the cost of a cup of tea is also likely to rise.
As these price adjustments loom, consumers in Bengaluru may soon feel the pinch in their daily beverage choices.
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