Loading the content...
Loading depends on your connection speed!
Featuring the latest news on the coffee industry and business insight from senior members of the Bennetts team.
Bennetts > Blog
All things Bennetts & Coffee ...
WELCOME TO SEPTEMBER!
September is upon us and the wattle has been in bloom for some time.
With the new season comes new things from Bennetts. As you will see next
week, we have given our brand and website a facelift. We hope you love it as
much as we do. We would appreciate to hear your feedback on our new website
so we can continue to make even more improvements.
Victoria is still in stage 4 lock down restrictions, which means things are
moving a bit slower than usual, once again we thank you our valued customers
for your patience through this challenging time.
No doubt we are still working hard behind the scenes to make sure you have
amazing coffee all year. Let us know how we can help you.
A WORD FROM THE CUPPING ROOM
August saw a huge
range of specialty coffees land amongst our usual offerings.
Of particular note were our Washed, Natural and Honey Ethiopian Grade 1
microlots. While many of you may have missed out on the first round of these
coffees, there is no need to worry, as we have another container landing this
week to keep you stocked up. Get in touch with your account manager for
Our good friends at STC in Costa Rica shipped us an amazing selection of
Honey, Natural and Anaerobic processed microlots. We have all the usual
products in stock again, Tirra, Las Lajas and Asoproaaa. If the punchy
acidity of Costa Rica is not your thing, we have just landed some new lots
from the La Bastilla farm in Nicaragua with notes of sticky berry and
And keep your eye out for this seasons Kelagur Heights Estate Indian
specialties coming in later in the month. If the pre shipment samples are
anything to go off, these coffees are going have big bodies and rich fruity
finishes. Check out our
Instagram for news on more delicious coffees
as they arrive.
Much like the
Spanish Inquisition, no one expected the coffee market to rise quite so fast
and sharply. Indeed, by the start of August it seemed like prices were on
their way back down following a weather related spike that had taken the
market from a low of just under 100 US cents/lb in mid-July to a high of
almost 130 US cents/lb by the start of August. Instead, prices retreated
briefly to below 115 US cents/lb before mounting a new offensive, and
breaking through the 130 US cents/lb barrier at the end of August, a level
not seen since back in January this year.
So what has changed?
The risk of frost is in Brazil is pretty much behind us, and it’s still too
early to talk about drought as a realistic issue… Furthermore, the
market also seems to have priced in the fact that Brazil is harvesting a
bumper crop this year (which is already 85% completed). Therefore, we
shouldn’t expect this particular factor to significantly influence price
moves until we have an idea what is to be expected out of Brazil for the
The answer to why the “C” rose so sharply lies with managed money funds, who
as a whole decided to shift their positions in soft commodities (i.e.
agricultural products such as grains and oilseeds), from a short position to
a long one. Quite how long they will keep it up, or where the new base will
be, is anyone’s guess.
On the one hand, while demand for coffee was propped up by an increase of
at-home consumption at the start of the pandemic, the long term effects of a
global economic slow-down are expected to slow demand, which should in turn
result in a softening in prices down the line…
However, a return to low prices would surely be a further disincentive for
growers to continue producing coffee, resulting in lower supply down the
line. Therefore, while it might be nice to have lower prices in the
short term, it really is counterproductive for the long term viability of the
industry as a whole. After all, if the producer is gone, we’re all gone.
Our dear friends at
Ipanema Estate in Brazil are about 90% though their harvest and reports are
the 20/21 season is looking great.
Three years ago, Ipanema built and launched a state of the art wet and dry
mill to produce specialty microlots with unique ‘designer’ flavour profiles.
Coffees produced at this mill form their Premier Cru range, and this season
Ipanema are about to release the ‘Anima Verde’ Collection. In the next few
weeks, Bennetts will be hosting an online chat session with the team at Ipanema
to learn more about the Premier Cru project and the amazing coffees they
produce at their other state of the art farms.
We would like to invite you all to join in on this digital experience. Stay
tuned for more details soon.
Aus/NZ (FSANZ) recently banned the sale of pure and highly concentrated
caffeine food products from retail sale following a review which
found these products pose an unacceptably high risk to people in the
community. In August 2019 Health Ministers asked FSANZ to review the safety
of these products after the tragic death of a young man in NSW from caffeine
toxicity related to a pure caffeine powder. Risk assessment found
small amounts of these substances (less than a teaspoon) can cause severe
health effects, including death. While the products were initially banned,
FSANZ is now required to review the decision as they recognise there are
broader issues relating to caffeine in the general food supply that couldn't
be addressed in the urgent proposal due to the urgency of the decision.
Therefore, the preferred option is to raise a proposal to review the
regulation of caffeine in the general food supply and determine if additional
measures are needed to protect sensitive sub-populations such as children,
pregnant or breastfeeding women and people sensitive to caffeine. The ban on
pure and highly concentrated caffeine products would remain in place if a
new, separate proposal process is undertaken. We don’t expect this to affect
coffee beans and beverages, as they do not include “added caffeine
concentrate” but if you’d like to review the policy and submissions,
check out this
Have a great September,
The Bennetts Team