Every Friday, Perfect Daily Grind rounds up the top coffee industry news from the week.
Not long after 2023 World Barista Champion Boram Um joined as a brand ambassador, grinder manufacturer Mazzer announced that Martin Wölfl, the 2024 World Brewers Cup Champion, has also started to represent the brand. As commercial interest in specialty coffee at scale continues to grow, it seems that leaning on champions and competitors is a crucial component of many equipment brands’ marketing strategies.
Beyond ambassadors, the ICO also announced this week that its Composite Indicator Price – one of the world’s key reference prices for coffee – had reached a 47-year high. The ICO said the spike is due to tight supplies of robusta in Vietnam and the recent proposal from the EU to delay its landmark deforestation regulation.
The I-CIP hit a 13-year high just three months ago in July 2024. Ultimately this shows that a volatile C market is likely to be the status quo for a while longer. With both arabica and robusta prices climbing and the potentially delayed EUDR legislation looming, it seems more pertinent than ever for roasters and traders to precisely manage their inventories.
Photo credits: The Barista League
Want to keep up with current affairs in the coffee industry? Check out last week’s coffee news stories and make sure to read the latest Coffee Intelligence News & Opinion piece on whether proposed EUDR delays mean better preparation or market dilution.
Passionate about music and coffee, not necessarily in that order. He has been writing about both, and many other things, since 2005.
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