Every Friday, Perfect Daily Grind rounds up the top coffee industry news from the previous week. Here are this week’s stories.
Mon, 15 Aug
- Seventh annual Taiwanese AeroPress Championships to take place on 3 September 2022. The competition will be hosted by Sunbear Coffee. The winner will represent Taiwan in this year’s World AeroPress Championship from 1 to 3 December 2022 in Vancouver BC, Canada.
- Coffee Planet opens its largest coffee shop in Dubai. The UAE roaster opened its 54-seat location in the Dubai Hills Mall. Coffee Planet aims to expand into Saudi Arabia later this year.
- UK coffee and tea supplier Finlays to open new cold brew production facility in Hull. The new facility will manufacture branded and private label cold brew products for UK and European retailers. Finlays will also launch its own new cold brew line in the UK over the coming months.
- Specialty Coffee Association announces its second Green Coffee Summit. The virtual event is scheduled for 18 and 20 October and will feature lectures and seminars on the North American and European coffee markets.
- Gimme! Coffee welcomes first worker-owned branch in New York City. Around 34 employees out of a total 50 signed the co-operative member agreement in July 2022. The company was officially decertified from the Workers United union in January 2021.
- Starbucks accuses US labour officials of supporting unionisation efforts. The company submitted a claim to the National Labour Relations Board which accuses government employees of interfering with recent union elections at certain stores. Starbucks has requested all further elections to be suspended until the allegations are addressed. Workers United claims the accusations are anti-union backlash.
Tue, 16 Aug
- Paulig’s Mundo coffee range receives carbon-neutral certification. The food and beverage supplier received the certification through its support of reforestation projects in coffee-producing countries. Carbon emissions for Mundo coffee products were verified by independent organisation Climate Impact Partners.
- YouTuber brand Chamberlain Coffee secures US $7 million in Series A funding round. The company, founded by YouTuber Emma Chamberlain, will use funding for further product development and to expand in new channels.
- Co-founder of Coffee Review publishes new book. Kenneth Davids’ 21st Century Coffee: A Guide explores the history of coffee. Davids has over 40 years’ experience in the industry.
- Starbucks India reports 238% increase in 2022 second quarter revenue. The coffee chain, which is jointly operated by Tata Consumer Products in the country, says growth is largely attributed to the easing of India’s Covid-19 restrictions.
- Global plant milk market to reach US $32 billion by 2031. Fact.MR estimates a compound annual growth rate of 11% during the analysis period, with rising demand in the Chinese market.
- Reborn Coffee closes US $7.2 million initial public offering. The Californian specialty coffee retailer began trading on the Nasdaq Capital Market on 12 August, offering more than 1.4 million shares at US $5 each.
Wed, 17 Aug
- Global cold brew market predicted to grow by US $1.37 billion by 2025. Technavio predicts a CAGR of more than 26% over the next three years. The North American market is expected to experience the most growth.
- Likelihood of early La Niña is increasing, says Australia’s Bureau of Meteorology. The bureau says lower sea surface temperatures in the Pacific Ocean indicate that higher levels of rainfall in Australia could begin as early as September 2022 – which could also affect a number of coffee-growing regions.
- Indian beverage supplier Roastea plans rapid expansion of vending machines and coffee shops. The company plans to install more than 1,200 vending machines and open 30 new outlets in India over the next year. Roastea says it expects to experience a six-fold increase as it expands across eight states in the country.
- Coffee Shop Innovation Expo 2022 to take place from 19 to 20 October. The event, which runs alongside several others at ExCel London, will include exhibitors such as Starbucks, Costa Coffee, and Fairtrade.
- New study finds caffeine can suppress nicotine cravings. Researchers from the University of Florida concluded that certain chemical compounds in coffee can lessen the severity of nicotine cravings, particularly in the morning.
- Krispy Kreme stock prices fall after lowering profit outlook. Despite 2022 second quarter total net revenue increasing by 7.5% on the same period in 2021, the company’s stock dropped by more than 14% after lowering its expected 2022 revenue. Krispy Kreme says this is also attributed to economic downturn in the UK market and underperformance in some of its US legacy stores.
Thu, 18 Aug
- Probat launches first edition of new P01 roaster. The launch of the electric roaster will also include nine new limited edition roasters from three different series: Harvest, Geometric, and Tropical.
- Dunkin’ launches new autumn beverage range. Alongside the Pumpkin Spice Signature Latte and Pumpkin Cold Brew, the chain is also including two new items: the Nutty Pumpkin Coffee and the Blood Orange Dunkin’ Refresher.
- TRIP launches CBD-infused RTD cold brew. Each can of the new cold brew contains 15mg of CBD, which the UK CBD oil company claims can counteract high levels of caffeine consumption.
- Registration opens for Café Show Seoul 2022. The event, which will run from 23 to 26 November 2022, will also include the World Coffee Leaders Forum and the Seoul Coffee Festival – with more than 2,000 booths at the exhibition.
- Former Starbucks Russia stores rebrand as Stars Coffee. Starbucks officially exited the country in May 2022 before the chain’s former locations were acquired by Russian music artist Timati and restaurateur Anton Pinskiy. Stars Coffee has a number of similarities to Starbucks, including the logo and menu items.
- Lost Sock Roasters to launch pop-up coffee shop at Washington, D.C. museum. The company will open a new temporary location at the Phillips Collection – the US’ first modern art museum.
Fri, 19 Aug
- Expo Eje Café 2022 takes place in Quindío, Colombia. The three-day event includes barista and roaster championships, as well as lectures hosted by the International Women’s Coffee Alliance.
- Tradition Coffee to host two 2023 US Coffee Championship preliminaries in Hawaii. The Hawaii preliminary rounds for the 2023 US Brewers Cup and Roasting Championship will take place from 20 to 21 August 2022.
- ApexBrasil to host event in London to promote trade of Brazilian products, including coffee. The Casa Brasil event will take place from 25 August to 7 September 2022, with a designated “coffee day” on 31 August.
- Kenya’s Council of Governors petitions to overrule new coffee farming licensing roles. Representatives of several coffee-growing counties in the country claim the new amendments to coffee licensing laws will negatively impact farmers’ ownership rights of their plants.
- Australian coffee roasters could implement second price increase within the year. Rising coffee prices forced some roasters in the country to increase wholesale prices earlier this year. Dry conditions in Brazil have further increased arabica prices, suggesting another price hike could be imminent.
Here are a few news stories from previous weeks that you might find interesting. Take a look.
- Mon, 8 Aug – SOHO Coffee Co. opens on-the-go concept store in the UK. The SOHO PICCOLO location opened in Northampton’s train station. The company plans to open more on-the-go stores nationwide.
- Tue, 9 Aug – UK football club Aston Villa launches reusable coffee cups at home stadium. Fans can pay a 10p (US 0.12 cents) deposit to participate in the scheme. For every 1,000 cups returned, the club says it will plant one tree as part of a reforestation project.
- Wed, 10 Aug – Agricultural consultancy Safras & Mercado predict 2022 Brazilian production to drop down to four million 60kg bags. Robusta production, however, is expected to increase between 1 million and 1.5 million bags.
- Wed, 10 Aug – Costa Coffee opens 300th drive-thru location in the UK. The company says it is committing £20 million (US $24 million) to expanding its drive-thru stores over the next three years.
- Thu, 11 Aug – Arabica futures reach one-month high as a result of low stocks and unfavourable weather in Brazil. Arabica futures reached US 223.95 cents/lb as Brazil continues to experience a dry spell and International Coffee Exchange arabica-certified stocks were reported to be at a 23-year low. Robusta futures also reached a four-month high of US $2,216/tonne.
- Fri, 12 Aug – Cerrado Coffee Growers Co-operative and Dulcerrado receive world’s first regenerative agriculture certification. The coffee was certified by Regenagri and Control Union, which recognised that the Brazilian co-ops produced the coffee using sustainable agricultural practices.
- Fri, 12 Aug – Brazil’s Procafé Foundation voices concerns over impact of extreme weather on 2023 coffee season. Below average rainfall, possibilities of drought, and high temperatures are said to be worse than conditions experienced in 2021.
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Title: Coffee News Recap, 19 Aug: Cold brew market to grow by US $1.37 billion, Starbucks accuses US labour officials of union support & other stories
Sourced From: perfectdailygrind.com/2022/08/coffee-news-recap-19-aug/
Published Date: Fri, 19 Aug 2022 11:36:41 +0000