The price of a kilogram of coffee on the market of Bosnia and Herzegovina has increased by about 30% from 2021 until today, and judging by the analysis of the Department for Macroeconomic Analysis of the Administration for Indirect Taxation of Bosnia and Herzegovina, the prices of this popular beverage will continue to rise in the coming period.
As stated, due to disruptions on the world market and higher prices of raw materials, the expectation is that coffee prices will rise further in the coming period, both on the world market and on the BiH market.
“The huge stocks of coffee beans in Brazil and Vietnam, as the largest producers, are decreasing and could be halved by the end of the year compared to the previous year, which will further affect the rising global coffee prices,” the analysis pointed out.
The document further states that in the last period the stock market prices of coffee have increased significantly and that it is certain that the prices of raw materials will not decrease.
Dragan Grbić, chief roaster at Caffemio, confirmed that the price of raw materials is rising, stressing that, regardless, they will not increase the price of their final product.
“The price of raw materials is increasing because there is a small amount of coffee on offer, and there is a high demand. Prices are jumping on both the London and the American stock exchanges,” Grbić told Nezavisne novine, adding that they hope for cheaper raw materials.
Momčilo Banjac, director of the company Minea from Gradiška, pointed out that the price of raw coffee has increased, as well as that prices change every day. However, as he states, the situation this year is somewhat more favorable compared to last year when coffee prices were much higher.
“Personally, I would like prices not to rise, because every time I buy goods, I expect them to be cheaper, however, that is not the case. Prices still rise a little,” Banjac told Nezavisne novine, adding that many elements affect the price.
He pointed out that it is difficult to predict exact prices in the future, because coffee is a stock market commodity, and high inflation additionally affects the formation of the final amount. However, what is certain is that prices will not return to those of a few years ago.
Due to the increase in the price of coffee, in addition to the citizens, the state may also be at a loss because, as stated in the ITA of BiH, with an increase in prices, there may be a decrease in consumption.
“A significant price increase can cause a significant decrease in coffee consumption, which can further affect the reduction in the collection of excise duty on this excise product,” the analysis pointed out.
We remind you that in nine months of this year coffee, roasted and raw, worth 105.8 million BAM was imported into BiH, which is 36.2 million BAM less than last year.
In the same period, compared to nine months last year, 4.7 tons less coffee arrived on the BiH market, so 14,806,124 kilograms were imported, Akta reports.
