Connect with us

Coffee Industry and News

Vietnam’s coffee export earnings rise to $4.18 billion in 2023, driven by higher prices

Published

on

Vietnams coffee export earnings rise to $4.18 billion in 2023, driven by higher prices

Robusta prices offset export volume slump

Vietnam’s export earnings from coffee reached $4.18 billion in 2023, marking a 3.1% increase compared to the previous year, according to the Vietnam News Agency. Despite a 9.6% slump in export volumes, higher Robusta prices helped boost earnings. Robusta quotes in the global market hit a 28-year peak at the end of 2023 due to low inventories and sale restrictions.

Prices expected to rise further

Traders and analysts predict that coffee prices could continue to rise due to concerns about supply shortages. The average export price in 2023 was $2,834 per tonne, a 14.1% increase over the previous year. This upward trend is expected to continue.

Sustainable development efforts

Vietnam has been actively working on promoting the sustainable development of its coffee industry. This includes initiatives such as ensuring origin traceability and meeting the European Union Deforestation Regulation standard.

Robusta futures fall, farmers remain hopeful

Robusta coffee futures in London started 2024 on a low note, falling to a 2-week low. However, farmers in Vietnam seem unfazed by the current prices close to record highs and have adopted a reserved approach to selling, hoping for further gains.

Arabica rebounds, but faces limitations

Arabica coffee recovered some of its recent losses, but gains were limited due to favorable weather forecasts in Brazil’s coffee regions and the weakening of the Brazilian currency. Brazil’s National Supply Company will issue its first official estimate for the 2024/25 coffee season on January 18th.

Continue Reading

Coffee Industry and News

Revolutionizing the Coffee Industry: Schaerer Unveils Cutting-Edge Concepts at Internorga

Published

on

By

Revolutionizing the Coffee Industry: Schaerer Unveils Cutting-Edge Concepts at Internorga

Embracing Quality and Technology

In the ever-evolving world of coffee, Hansjürg Marti, Managing Director of Schaerer Germany, emphasizes the importance of investing in coffee concepts that cater to the increasing cost pressures in the catering industry while meeting the rising demands of quality-conscious guests.

Innovative Solutions on Display

At the Internorga exhibition in Hamburg, Schaerer is showcasing cutting-edge coffee concepts that focus on individualization, digitalization, and efficiency. From loyalty apps to automated cleaning processes, Schaerer is paving the way for a new era in coffee business.

Redefining the Coffee Experience

By integrating digital solutions and innovative self-service concepts, Schaerer is leading the charge in revolutionizing how customers interact with coffee machines. The company’s loyalty app, developed in collaboration with Geneva-based family business mia&noa, is set to transform the way operators enhance the coffee experience.

A Legacy of Swiss Excellence

With a history dating back to 1892, Schaerer AG, based in Zuchwil, Switzerland, is a global leader in fully automated professional coffee machines. The company’s commitment to Swiss values and coffee expertise is evident in its product offerings and customer-centric approach.

Driving Customer Satisfaction

With a focus on customization, quality, and customer satisfaction, Schaerer is dedicated to providing customers worldwide with the tools and knowledge to deliver unparalleled coffee enjoyment to their guests.

Continue Reading

Coffee Industry and News

Groupe SEB Reports Strong Financial Performance in 2023

Published

on

By

Groupe SEB Reports Strong Financial Performance in 2023

Positive Sales Growth Despite Currency Challenges

Groupe SEB announced a 5.3% increase in sales for 2023, reaching €8,006m. This growth was offset by a negative currency effect, largely due to the depreciation of several currencies against the Euro, including the Chinese yuan. The company’s revenue was also impacted by the integration of newly acquired companies.

Business Segment Performance

The Consumer business experienced a 3.2% growth, with improvements in all regions and a resilient Small Domestic Equipment market. The Professional business saw a remarkable 26.5% growth, driven by international expansion in Professional Coffee.

Financial Highlights

The Operating Result from Activity (ORFA) for 2023 was €726m, a 17.0% increase from the previous year. Operating profit rose by 22.0% to €667m. The net profit attributable to owners of the parent reached €386m, a 22.1% increase from 2022.

Improved Cash Flow and Debt Reduction

Groupe SEB generated a free cash flow of €805m in 2023, a significant improvement from the previous year. The company was able to reduce its net debt by €204m, leading to a stronger financial position.

Dividend and Future Outlook

The Board of Directors proposed a dividend per share of €2.62 for 2023, reflecting a 6.9% increase from the previous year. Looking ahead, Groupe SEB aims to maintain resilience in the Small Domestic Equipment market and drive growth in the Professional segment, with an operating margin target of close to 10%.

Continue Reading

Coffee Industry and News

American Coffee Brand L’OR Espresso Partners with Ferrari in Global Collaboration

Published

on

By

American Coffee Brand L’OR Espresso Partners with Ferrari in Global Collaboration

New Chapter in Racing

JDE Peet’s has announced that L’OR Espresso has joined forces with Ferrari in a new global partnership. This collaboration will bring L’OR Espresso into the world of the FIA World Endurance Championship (WEC), including the renowned 24 Hours of Le Mans.

Shared Values and Branding

The partnership is based on shared values of passion and craftsmanship, with L’OR Espresso branding prominently featured on the Ferrari 499P Hypercar and driver uniforms. The collaboration aims to celebrate the sensory experience and intensity that both racing and coffee bring to life.

Exclusive Coffee Experience

At WEC events worldwide, L’OR Espresso will be served using their Barista brewing systems in the Ferrari Hypercar team hospitality area, offering a unique coffee experience to racing team members, partners, and guests.

Limited Edition Coffee Range

The partnership will also lead to the launch of a special limited edition range of coffee and coffee brewers inspired by the shared passion and craftsmanship of both brands, bringing a taste of the racing world to coffee enthusiasts.

Exciting Future with Ferrari

L’OR Espresso will extend its partnership to the Ferrari Challenge Trofeo Pirelli, a prestigious championship uniting dream cars and passionate drivers on the world’s top tracks for over three decades.

Enthusiastic Responses

Fiona Hughes, Chief Marketing Officer at JDE Peet’s, expressed excitement about the partnership, highlighting the connection between L’OR Espresso and Ferrari in passion, intensity, and craftsmanship. Lorenzo Giorgetti, Chief Racing Revenue Officer at Ferrari, also shared enthusiasm for the collaboration, emphasizing shared values and a promising journey ahead.

Continue Reading

Trending

Copyright © 2024 Cappuccino Oracle. All Rights Reserved. As an affiliate, we may earn a commission from qualifying purchases. We get commissions for purchases made through links on this website from Amazon and other third parties.