Coffee News Recap, 7 Jan: Keurig pays $3 million in capsule lawsuit, Brazil’s domestic prices hit record levels & other stories

Every Friday, Perfect Daily Grind rounds up the week’s top coffee industry news. Here are this week’s stories.

  • Mon, 3 Jan – Robusta futures set new record on Intercontinental Exchange stock market. Robusta contracts for March deliveries closed at US $2,480/tonne in early January. Vietnam’s General Statistics Office announced the country’s December exports dropped 6.5% on December 2020, mainly attributed to shipping container shortages and rising freight costs.
  • Mon, 3 Jan – Good Food Awards 2022 winners announced. The awards recognise US food and beverage businesses across several categories. Winners in the coffee category include Michigan roaster Higher Grounds for its Ethiopian Yirgacheffe Idido coffee.
  • Mon, 3 Jan – Arabica futures fall to six-week low on ICE stock market. Arabica contracts for March deliveries dropped by 1.8% to US 227.05 cents/lb in early January. Price decreases are attributed to uncertainty over the impact of the Omicron Covid-19 variant on coffee supply chains.
  • Tue, 4 Jan – Brazil’s domestic coffee prices rose to record level in 2021. Both arabica and robusta prices increased sharply due to droughts, frost, and shipping container shortages. Conab’s (Brazil’s National Company for Food Supply) December report indicated 2021/22 coffee production was down 24.4% on the 2020/21 harvest.
  • Tue, 4 Jan – SIGEP postponed to March 2022. The event, which was due to be held in January, has been rescheduled for 12-16 March because of international Covid-19 restrictions. It will include a physical exhibition in Rimini, Italy, as well as a virtual expo.
  • Wed, 5 Jan – Peet’s Coffee launches new year menu items. New winter beverages include the Churro Latte, the Churro Caramel Macchiato, and the plant-based Cold Brew with Sweet Cinnamon Oat Foam. The seasonal menu items are available until 8 March 2022.
  • Thu, 6 Jan – Keurig Canada pays CA $3 million (US $2.4 million) in K-Cup recycling lawsuit. A financial agreement was reached to resolve concerns over false and misleading claims made to consumers about recycling single-use coffee capsules. The case found that outside of the British Columbia and Quebec provinces, K-Cup pods are not widely accepted for recycling in Canada. Keurig Canada will now publish corrective notices on the recyclability of its K-Cups.

Here are a few news stories from previous weeks that you might find interesting. Take a look.

  • Mon, 27 Dec – Daily coffee consumption linked to reduced risk of kidney stones. The study from the American Journal of Kidney Diseases found increasing daily consumption to 1.5 cups could decrease the risk by up to 40%. The research included over 500,000 participants from two of the world’s largest medical databases.

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Want to keep up with current affairs in the coffee industry? Check out last week’s stories.

Photo credits: Nicole Motteux

The post Coffee News Recap, 7 Jan: Keurig pays $3 million in capsule lawsuit, Brazil’s domestic prices hit record levels & other stories appeared first on Perfect Daily Grind.

Originally posted at Perfect Daily Grind

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