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Australian coffee tipped to reach $12 amid international pressures
Australian coffee tipped to reach $12 amid international pressures

West Australian

time7 hours ago

  • Business
  • West Australian

Australian coffee tipped to reach $12 amid international pressures

Coffee may need to reach $12 a cup for Australia to compete with other countries for the sacred beans. Benchmark prices hit an all-time high in April, and industry insiders say Chinese demand for beans is squeezing prices in Australia. '(The) Chinese have very much converted from tea to coffee,' Essential Coffee chief executive Todd Hiscock told the ABC. 'They're buying up unprecedented levels of coffee supplies, often they're taking a whole Brazilian stock load in ways that's never been seen before.' Median prices per cup needed to increase to between $8 to $12, he said. 'We've got to come to the party and pay in a competitive global market,' Hiscock said. Brazil produces more than one-third of the world's coffee beans. The country battled through a drought in 2024 that was capped off with a cold snap. Combined, this slashed the overall harvests. As investors turn away from the volatile US, the Brazilian real has also climbed, disincentivising exports out of Brazil. Vietnam is the second-largest coffee producer. The El Nino weather pattern plunged Vietnam's coffee-growing regions into drought for the past two years, damaging the plants so badly that many will not fully recover for another two years. These international pressures, plus general inflation, are slicing margins at Australian cafes. A large player in the Australian coffee industry, Essential Coffee's wage bill has risen 9 per cent in two years, combined with a 29 per cent increase in rent and a 6 per cent rise in insurance. Mr Hiscock told the ABC the price of wholesale coffee had risen 119 per cent since November 2023. 'It's hard because people are very sensitive to their beloved coffee and when you move the price up, you find not just a lot of negative reaction, you find some very terse expletives,' he said.

Insane amount Aussies could pay for coffee
Insane amount Aussies could pay for coffee

Perth Now

time8 hours ago

  • Business
  • Perth Now

Insane amount Aussies could pay for coffee

Coffee may need to reach $12 a cup for Australia to compete with other countries for the sacred beans. Benchmark prices hit an all-time high in April, and industry insiders say Chinese demand for beans is squeezing prices in Australia. '(The) Chinese have very much converted from tea to coffee,' Essential Coffee chief executive Todd Hiscock told the ABC. 'They're buying up unprecedented levels of coffee supplies, often they're taking a whole Brazilian stock load in ways that's never been seen before.' Suppliers are grappling with high coffee prices after poor harvests in the major coffee-growing regions of the world. NewsWire Credit: Supplied Median prices per cup needed to increase to between $8 to $12, he said. 'We've got to come to the party and pay in a competitive global market,' Hiscock said. Brazil produces more than one-third of the world's coffee beans. The country battled through a drought in 2024 that was capped off with a cold snap. Combined, this slashed the overall harvests. As investors turn away from the volatile US, the Brazilian real has also climbed, disincentivising exports out of Brazil. The price of wholesale coffee has more than doubled in less than two years. NewsWire / Gaye Gerard Credit: News Corp Australia Vietnam is the second-largest coffee producer. The El Nino weather pattern plunged Vietnam's coffee-growing regions into drought for the past two years, damaging the plants so badly that many will not fully recover for another two years. These international pressures, plus general inflation, are slicing margins at Australian cafes. A large player in the Australian coffee industry, Essential Coffee's wage bill has risen 9 per cent in two years, combined with a 29 per cent increase in rent and a 6 per cent rise in insurance. Mr Hiscock told the ABC the price of wholesale coffee had risen 119 per cent since November 2023. 'It's hard because people are very sensitive to their beloved coffee and when you move the price up, you find not just a lot of negative reaction, you find some very terse expletives,' he said.

Insane amount Aussies could pay for coffee
Insane amount Aussies could pay for coffee

Yahoo

time8 hours ago

  • Business
  • Yahoo

Insane amount Aussies could pay for coffee

Coffee may need to reach $12 a cup for Australia to compete with other countries for the sacred beans. Benchmark prices hit an all-time high in April, and industry insiders say Chinese demand for beans is squeezing prices in Australia. '(The) Chinese have very much converted from tea to coffee,' Essential Coffee chief executive Todd Hiscock told the ABC. 'They're buying up unprecedented levels of coffee supplies, often they're taking a whole Brazilian stock load in ways that's never been seen before.' Median prices per cup needed to increase to between $8 to $12, he said. 'We've got to come to the party and pay in a competitive global market,' Hiscock said. Brazil produces more than one-third of the world's coffee beans. The country battled through a drought in 2024 that was capped off with a cold snap. Combined, this slashed the overall harvests. As investors turn away from the volatile US, the Brazilian real has also climbed, disincentivising exports out of Brazil. Vietnam is the second-largest coffee producer. The El Nino weather pattern plunged Vietnam's coffee-growing regions into drought for the past two years, damaging the plants so badly that many will not fully recover for another two years. These international pressures, plus general inflation, are slicing margins at Australian cafes. A large player in the Australian coffee industry, Essential Coffee's wage bill has risen 9 per cent in two years, combined with a 29 per cent increase in rent and a 6 per cent rise in insurance. Mr Hiscock told the ABC the price of wholesale coffee had risen 119 per cent since November 2023. 'It's hard because people are very sensitive to their beloved coffee and when you move the price up, you find not just a lot of negative reaction, you find some very terse expletives,' he said.

Beloved Newfoundland musician Mark Hiscock has died
Beloved Newfoundland musician Mark Hiscock has died

Yahoo

time07-05-2025

  • Entertainment
  • Yahoo

Beloved Newfoundland musician Mark Hiscock has died

Mark Hiscock, Shanneyganock's multi-instrumentalist, has a new solo album called The Old Fishing Schooner. (Courtesy Mark Hiscock - image credit) Mark Hiscock, a founding member of Shanneyganock, has died. He was 53. (Courtesy Mark Hiscock) Mark Hiscock, a lifelong musician based out of St. John's, has died. He was 53 years old. Hiscock was a mainstay of Newfoundland and Labrador's musical landscape, and was a founding member of the well-known folk band Shanneyganock — known for tunes steeped in the province's long history of storytelling. The band, which was formed more than 30 years ago as a musical duo, developed a strong following and regularly performed across Canada. ADVERTISEMENT Advertisement In a previous interview with CBC News, Hiscock said even after performing for decades, he wasn't tired of life on the stage. "There's times when you think, 'Jeez, how did we manage to get this far?'" he said. "And then there's other times you look out, when you're playing in front of the crowd like tonight, and you go, 'This is the reason we've done it.' We do it for the fans." WATCH | From the CBC archives, Mark Hiscock talks about making music his life: According to the band, Hiscock was one of province's best button accordion players. Beyond that, he also had a solo career, released albums and worked with other artists. ADVERTISEMENT Advertisement Shanneyganock is scheduled to perform at the 37th annual East Coast Music Awards on Thursday at the Mary Brown's Centre in St. John's. Singer Chris Andrews told CBC News the band still plans to play that performance, and dedicate it to Hiscock. In 2020 the band received a lifetime achievement award during an ECMA gala. Download our free CBC News app to sign up for push alerts for CBC Newfoundland and Labrador. Click here to visit our landing page.

Still no trial decided for 2021 N.L. election challenge amid slow-moving lawsuit
Still no trial decided for 2021 N.L. election challenge amid slow-moving lawsuit

CBC

time20-03-2025

  • Politics
  • CBC

Still no trial decided for 2021 N.L. election challenge amid slow-moving lawsuit

A slow-paced lawsuit alleging problems with the province's 2021 "pandemic election" finally saw some movement Thursday morning, but the case is now at risk of being tossed altogether. Lawyers for Elections N.L. and John Abbott argued it's too late for a three-year-old controverted election application to go to trial, given the next general election is just months away at most. The lengthy lawsuit began when St. John's man Whymarrh Whitby alleged that issues during the last provincial election — including issues about special ballets — resulted in his right to vote being denied. Three candidates — former provincial NDP leader Allison Coffin and PC candidates Jim Lester and Sheila Fitzgerald — have been calling for a new byelection in their respective ridings since. Whitby, Coffin and Lester were all at Supreme Court in St. John's for Thursday's hearing. Whitby's lawsuit against Elections N.L. and former chief electoral officer Bruce Chaulk is co-signed by Coffin, who lost her St. John's East-Quidi Vidi seat to current Liberal MHA John Abbott. The pair is represented by Will Hiscock, who said Thursday that he is prepared to go to trial. "We have the numbers to make this not a purely academic challenge, but a real and material challenge," Hiscock told Justice Garrett Handrigan. Most of the morning hinged on one section of the House of Assembly Act, which Elections N.L. lawyer Andrew Fitzgerald interpreted as saying a byelection cannot occur within six months of a general election. Hiscock, however, argued the act stated that there is simply no obligation to hold a byelection in that period, and said irregularities caused significant challenges during the previous provincial election. Trial readiness In his readiness argument, Hiscock said he is prepared for trial, with at least 60 individuals in the St. John's East-Quidi Vidi riding who allegedly ran into irregularities in the election that prevented them from voting. That number is high enough to beat the magic number test in this case, which is a formula the Supreme Court uses to determine whether an election should be annulled. John Samms, the lawyer for John Abbott, argued that he and his client had no role in delaying the lawsuit, and that the plaintiffs have not taken any chances to speed up the process — proving, he argued, they are not ready to go to trial. Samms wants the matter to be "fully evaporated" by April 14 of this year — the presumed "drop dead" date for this matter. "Barring another pandemic, we will never see another election like this again," he said, arguing that a trial would be too expensive, lengthy and unnecessary. The lawsuit is not meant to replace one sitting member of the House of Assembly with another, Hiscock said, but rather to void the 2021 election altogether. According to Handrigan, the lawsuit is at the eleventh hour. "But we're not at the twelfth," Hiscock replied as those sitting in the courtroom laughed.

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