Green Beans still on the increase!

We are continuing to experience a very high cost of inflation combined continual movement on the green coffee price and logistic costs.

Unfortunately, market projections do not indicate an improvement in this scenario in the foreseeable future.

Three major influences on the current price changes are that our green bean pricing is increasing every two months, domestic freight costs have increased steadily over the past few months, driven by fuel prices, and the NZD has remained weak against the USD, which continues to strengthen.

Some points from the past few weeks:

• The coffee market is now at 216c/lb (vs. 183c/lb YOY, an 18% increase

• NZD/USD exchange rate is at a 2-year low of .59 (vs. .70 in March, a 15% decline in 6 months)

Due to these reasons, we will be having a $2.50/kg price increase across all blends as of the 1st November 2022

Thanks for your understanding and ongoing loyal support !

Team FRED.