· 2 min read
illuminem summarizes for you the essential news of the day. Read the full piece on Wall Street Journal or enjoy below:
🗞️ Driving the news: Andrea Illy, chairman of Illycaffè, highlights that climate change is pushing coffee prices to record highs, driven by unpredictable weather in Brazil and Vietnam
• Arabica futures have surged nearly 70%, while robusta prices have more than doubled
🔭 The context: Coffee production, concentrated in a narrow climatic band, is increasingly impacted by extreme weather from El Niño and La Niña cycles
• Illy stresses the need for long-term adaptation to climate change and calls for public-private investments in renewing plantations and supporting smallholder farmers
🌍 Why it matters for the planet: Climate instability threatens the livelihoods of millions of small coffee farmers, making adaptation critical to stabilizing production and ensuring sustainability in the coffee industry
⏭️ What's next: Illy advocates for simpler regulations under the EU’s Deforestation Regulation, emphasizing traceability, self-certification, and a phased approach to support growers without causing economic crises in vulnerable regions like Ethiopia
💬 One quote: "Climate change is giving us the exact opposite of regular climate conditions… it’s unpredictable" - Andrea Illy
📈 One stat: The price of arabica coffee futures has risen nearly 70% in the past year
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