Published 12 Apr.2022 14:03(KST)
[Asia Economy Reporter Hyungsoo Park] The stock price of Korea McNulty is on the rise. News that coffee bean prices are soaring due to a shortage in coffee bean supply appears to have influenced the stock price.
As of 2:03 PM on the 12th, Korea McNulty is trading at 8,340 KRW, up 15.99% from the previous day.
According to data from the Brazilian Coffee Industry Association, Brazil's coffee production last year was 48.807 million bags, a 22.6% decrease compared to the previous year. Brazil accounts for about 30% of the world's coffee bean production. Brazil is experiencing disruptions in coffee production due to abnormal weather conditions such as cold waves and droughts.
Since the beginning of this year, price increases have been continuously occurring in the domestic coffee market. Following Starbucks, Twosome Place, Hollys, Tom N Toms, and Paul Bassett, Angel-in-us also raised coffee prices. The logistics crisis is also known to have contributed to the rise in coffee bean prices.
Due to the increase in coffee bean prices, convenience store coffee prices have also risen. CU raised the price of its instant coffee 'GET Coffee' by 200 to 300 KRW starting from the 8th. Emart24 increased the price of its private brand coffee 'Ifresso' hot Americano from 1,000 KRW to 1,200 KRW starting from the 11th.
Korea McNulty operates the entire coffee-related business, from green coffee beans to processed coffee products. Their products are broadly categorized into four types: green coffee beans, which are coffee beans in their raw, unprocessed state; roasted coffee beans produced through the roasting process; instant coffee manufactured by freeze-drying (FD) roasted coffee beans; and coffee beverages made by extracting coffee beans into a liquid form.
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