There’s an aisle of the grocery store where inflation is looking exceptionally sticky: indulgent treats. Think coffee, chocolates and your favorite snacks.
Prices of soft commodities have soared this year because of supply constraints. The return of El Niño and prospects of hotter, drier weather in producing countries is now threatening to exacerbate tight supply.
It’s one corner of the commodities market, along with gold, bucking the deflationary trend even as the cost of food staples like bread and pasta eases. This week, robusta prices surged to the highest level since at least 2008, making it more expensive for buyers around the world to get a cheap brew. Robusta bean production is expected to fall by 5 percent in Brazil, while in Indonesia, the world’s second-biggest robusta exporter, output is projected to drop by 20 percent. That combined with shrinking stockpiles in Vietnam, the largest-robusta producer, is likely to keep prices elevated.
“We don’t expect major supply increases, while demand could slowdown especially in lower-income segments of the population that cannot afford such high prices,” said Marcos Fava Neves, a researcher at University of Sao Paulo.
Indonesia Berita Terbaru, Indonesia Berita utama
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