Cof-tastro-fee! Rising bean prices force price hikes

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Cof-tastro-fee! Rising bean prices force price hikes

Published: 01 Dec. 2024, 18:10

CHO YONG-JUN
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Dongsuh Foods coffee beans are on display at a hypermarket in Seoul on Sunday [YONHAP]

Coffee prices are on the rise following a coffee bean price hike, affected by climate change.

Dongsuh Foods increased the prices of its instant coffee, coffee beans and coffee drinks by 7.6 percent to 9.5 percent in November citing an increase in the cost of coffee beans.

The company's Maxim Mocha Gold coffee mix experienced a price hike from 17,450 won ($12.51) for 500 grams (1.1 pounds) to 19,110 won, while Kanu Americano instant coffee prices were raised from 17,260 won to 18,900 won.

The price of arabica coffee was recorded at $7,080 per 1,000 kilograms (2,204 pounds) as of Nov. 25, a 86 percent increase on year.

BY CHO YONG-JUN [[email protected]]