MilFoods predicts a 15% increase in the cost of coffee in Russia in 2023 – Kommersant
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In 2023, the cost of coffee in Russia may increase by 15% against the backdrop of further price increases in the main supplying countries, said Mikhail Glukhov, Marketing Director of MilFoods. However, according to him, local producers will strive to ensure that consumers do not notice a significant increase in prices.
In May 2022, MilFoods bought the Finnish Paulig business in Russia and began producing coffee under the new Poetti brand. The new owner took over the entire Russian structure, including the roasting factory in Tver and 200 Paulig employees.
“Naturally, we expect growth to be minimal. We are trying to somehow create reserves, to produce as much as possible at the old prices … But in general, we can predict a smooth growth of 15% during the year, ”Mr. Glukhov told RIA Novosti.
Mikhail Glukhov noted that coffee prices are not determined in Russia, but depend on the cost of green coffee and the world market. Brazil is the largest exporter of Arabica, India and Vietnam are the largest exporters of Robusta.
“Local producers on their own are unlikely to raise much (prices.— “b”), because everyone understands that the situation in Russia is not one to directly raise them strongly, but if prices for raw materials rise on the world market, then there will be no other way out. Therefore, we will monitor the situation, look, but in some cases the consumer will not even notice,” added Mr. Glukhov.
On June 9, Robusta coffee futures jumped 2% at exchange trading in London to $2,815 per ton, which was the highest since the launch of trading in coffee contracts 15 years ago. Bloomberg noted that since the beginning of 2023, against the backdrop of increased demand, adverse weather conditions and rising prices for fertilizers, the cost of Robusta coffee has increased by more than 50%.
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