Russian coffee shops to switch to low-quality coffee due to rouble collapse
Russian coffee shop owners plan to buy low-quality coffee due to rising prices for products caused by the collapse of the rouble.
Source: The Moscow Times, citing Sergey Rybenko, the sales manager of RTC-Trading, the company importing green coffee beans to Russia.
He said that all purchases are made in dollars and it has become impossible to buy good foods at the same prices in roubles.
"A high exchange rate now can very much eat up purchasing power. Most likely, coffee shop owners will buy low-quality coffee," Rybenko said.
He added that the rate affects only the domestic market, with stock prices for Arabica and Robusta remaining unchanged, and no changes are expected from coffee producing countries: supplies will continue to come from Central America, Africa and Asia.
Rybenko said that prices for basic Arabica have increased 1.5 times in recent years, from 90-100 cents to 150-160 cents per pound.
"As for Robusta, in June 2023, a tonne of this coffee cost US$2,800, and in October, it can be bought for US$2,400. Prices for basic Arabica and Robusta are now very close to each other, and the difference between them is extremely small, especially in retail," he said.
At the same time, it is noted that Russian business has already "tightened its belts".
Alla Bondarenko, the general manager of TanukiFamily, said that purchase prices for coffee have been growing over the past year, and the company's outlets have to adjust in order not to lose customers. "At the moment, we keep retail prices. Thus, we reduce margins, but maintain the loyalty of our guests," she said.
Earlier, the dollar rose above 102 roubles in Russia for the first time since the end of March 2022, but then it began to fall. On the morning of 10 October, the US currency was being traded above 100 roubles again.
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