Key Points
Be it the humbled pulses, vegetables or even exalted gourmet offerings, food prices are now steaming hot, singing consumers' budgets and making policy decisions tougher for rate-setters while they perhaps sip on coffee..
Hold onto your mugs, coffee enthusiasts, because it looks like your beloved brew is about to take you on a rollercoaster ride through the wild world of caffeine economics...
Rajesh Gandhi, owner of Gandhi's Coffee, a well-known coffee trading enterprise in Pune, said that he had to pass on a Rs 50/kg price hike to the end consumers, as Robusta beans have undergone an approximate 50% price surge, while Arabica beans area dearer by about 15%...
However, prices are expected to be a bit higher in the domestic market which is growing at double digits because of demand and less production, Challa Srishant, MD of CCL Products (India) and member of the Coffee Board of India, said.. CCL Products, known for its 'Continental' coffee brand, has raised prices from Rs 280 to Rs 360 for a 200g jar within a year, with a further 10% increase planned for the next quarter..
Coffee prices (Arabica) are a little lower now than they were last year but traders usually buy in bulk and therefore it appears like they are protecting their bottom line in case prices rise again, Mahesh Shashidhar, chairman of Karnataka Planters Association said...
