Karnataka: Coffee prices likely to rise by Rs 200 per kg next month; Will hotels charge more for a cup?
The price of coffee is set to increase in the coming month in Karnataka, with the cost of coffee powder rising by Rs 200 per kilogram, leading to a price of Rs 800-850, potentially reaching Rs 1,000-1,100.
FollowBengaluru: There is good news for coffee growers but disappointing news for coffee lovers. In the next month, the price of a cup of coffee could rise by up to Rs 5! The price of coffee powder is expected to increase by Rs 200 per kilogram, pushing the overall price to Rs 800-850, with some estimates suggesting it could go up to Rs 1,000-1,100. Along with the rising cost of milk, the overall price of a cup of coffee is set to climb.
In coffee-growing areas, including Chikkamagaluru, the Arabica coffee harvest has seen a significant decline. Robusta production has also decreased, leading to a rise in coffee prices across the board. As a result, roasters selling roasted coffee powder have announced an increase of Rs 100 per kilogram by the end of February, with another Rs 100 hike expected by the end of March.
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The Indian Coffee Roasters Association and the Coffee Board have confirmed that the price hike of roasted coffee is inevitable. This marks the second price increase in the current financial year. Sources from the Coffee Board indicate that fluctuations in the international coffee market are also contributing to the price rise.
As a result, there has been growing concern about the price increase of coffee. However, the exact amount and timeline for the hike are still undecided. Despite this, P.C. Rao from the Bangalore Hotel Owners' Association mentioned that the price hike, if it happens, will be temporary.
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