31 Dec 2015

NZers warned not to expect a cheaper coffee

4:34 pm on 31 December 2015

A global drop in coffee prices will not affect how much New Zealanders pay for a flat white, a Wellington coffee roaster says.

cup of coffee

Photo: 123RF

Listen to Richard Corney who co-owns Wellington's Flight Coffee and Raw Material on Summer Report.

The industry worldwide is worth about $20 billion a year.

But prices on the New York Stock Exchange are falling thanks to a boost in crops from favourable weather conditions in Brazil, the world's main producer.

Richard Corney co-founded and co-owns Flight Coffee in Wellington and deals with growers in Colombia.

He said the fluctuating value of coffee on the market would not filter through here because companies used the low prices to offset the high prices they absorbed when the market was up.

"(In) 2011 for example, coffee roasters in New Zealand and the world over were paying the most for coffee they'd paid in years, in history I think and essentially when the market's down it makes those losses off-set."