Saturday 21 October 2017

Wake up and smell the price of coffee – cost falling for two years, but not for the Irish coffee drinker

Coffee futures now a third of what they were this time last year
Coffee futures now a third of what they were this time last year
Coffee beans are at an all time low

THE cost of coffee has been falling for almost two years according to figures just revealed, but it’s not filtering down to the Irish consumer.

Irish coffee drinkers are still paying above the odds for their daily Cappuccinos and Americanos, with coffee futures  now a third of what they were this time last year,  making the cardboard cup your coffee is served in more costly than the actual beans the drink is made with.

There is strong anecdotal evidence that many people who eschewed their morning takeaway coffee as a way of saving money when the recession hit are gradually being lured back into the cafe.

Sales of lattes, cappuccinos and flat whites rose by 0.9 per this year compared to the same time in 2011.

Fast food giant McDonald's has introduced the McCafe concept to lure in more customers and coffee sales at their Irish branches are up 35 per cent since the beginning of the year.

Service stations are also experiencing a boom in food and beverage sales with coffee an increasingly important profit driver.

 

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