This Week in Coffee; Tuesday 3rd of October '23
The Big Three
High Temperatures in Brazil Threaten Next Year's Harvest via NASDAQ
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We're a little concerned about Brazil's Arabica industry as a heat wave sweeps the country during the final days of winter in the Southern Hemisphere. Temperatures are soaring above 40 Celsius, which is detrimental to the delicate Arabica coffee trees during their reproductive phase. This could potentially lead to a reduced coffee crop for next year as the heat hinders the development of coffee fruit from the flowers.
There's some hope that October rains could help mitigate the situation.
Jim Roemer, who runs bestweatherinc.com, reckons that coffee regions are experiencing temperatures up to 20 degrees Fahrenheit higher than usual, causing concern in the coffee market.
Bear in mind that this is threatening next year's yield but worrying nonetheless.
Third Wave Coffee raises $35m in funding
India's coffee scene is witnessing remarkable growth as Bengaluru-based Third Wave Coffee secures $35 million in funding, with private equity firm Creaegis leading the charge. This significant investment elevates Third Wave Coffee's valuation to $150 million, highlighting the substantial appetite for coffee in the country.
One noteworthy aspect is the sheer scale of Indian cafe chains, often dwarfing their European counterparts by a factor of ten. Third Wave Coffee, for instance, is planning to expand with 50-60 new stores this year, indicative of the thriving coffee culture in India.
This investment isn't just about coffee; it reflects India's evolving consumer landscape. The coffee-first Quick Service Restaurant (QSR) industry in India is thriving, and Third Wave Coffee is well-positioned to capitalise on this trend.
This development mirrors the broader trend in India's coffee industry, with competitors like Blue Tokai and Abcoffee also raising capital recently.
Aeropress launch coloured sleeves for the standard Aeropress and lids for the Aeropress Go
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I love these cute little sleeves and lids. They're a nice stocking filler for Christmas and will please the colour-coordinated among us.
Everything else
James Hoffman launches, and sells out, the 'Great American Taste Test'
Starbucks aims to protect future of coffee with climate-resistant trees via The Seattle Times