Korea's coffee prices are moderate compared to global standards, but the potential for future price hikes due to international market trends poses a concern for consumers.
The geisha coffee from Panama represents a niche market that highlights the diversity and quality of coffee available worldwide, contrasting with the more common coffee varieties consumed in Korea.
As climate change continues to impact coffee production, consumers in Korea and globally may face higher prices for coffee in the near future.
The demand for premium coffees like geisha may continue to rise, leading to increased interest and investment in specialty coffee markets.
Recently, concerns have arisen regarding the rising price of coffee beans, particularly in Korea, where many office workers are contemplating cutting back on their daily coffee consumption. Online discussions have highlighted that coffee prices in Korea may be higher than in other countries, leading to increased awareness of the financial burden associated with coffee purchases.
According to GlobalProductPrices.com, the price of a tall latte at Starbucks in Korea was $3.80 as of December last year, ranking 21st out of 37 countries surveyed. This positions Korea in the mid-level range compared to global coffee prices, with Switzerland being the most expensive at $8.48 per latte, while Turkey offers the cheapest at $1.89.
When considering the cost of coffee relative to average daily income, Korea's coffee cost burden is 2.7%, which is relatively low compared to countries like Morocco and India, where coffee prices consume over 12% of daily income. However, the rising international prices of coffee beans, driven by climate issues in major producing countries, may lead to future price increases in Korea.
In Panama, the geisha coffee, known as the most expensive coffee in the world, is being meticulously evaluated by professional tasters. This coffee is produced in the Chiriquí region, which is renowned for its unique flavor profile and high market value. The careful tasting process highlights the craftsmanship involved in producing this premium coffee.
- The increase in coffee prices is attributed to a nearly 70% rise in the futures price of Arabica coffee this year, alongside similar increases for Robusta varieties. This surge is largely due to adverse climate conditions affecting major coffee-producing regions, particularly Brazil and Vietnam.
- The geisha coffee from Panama is not only expensive but also highly sought after for its distinctive taste, making it a favorite among coffee connoisseurs.
