BLUFDue to global supply issues, coffee is likely to increase in price, affecting workplace morale.
Coffee has become synonymous with modern work and business. It is difficult to understate the role of the coffee break. Such breaks are an informal but essential part of the management and decision-making cycle, as these breaks encourage collaboration and creativity. Unfortunately, the global supply of coffee is threatened, and therefore, price hikes are beginning to hit the local coffee industry. The world price of coffee has surged 21.6 per cent this year alone.
The supply issues are attributed to:
- Climate change affecting the weather in major coffee-producing regions.
- Global supply chain issues are hurting importers.
- Increased demand for coffee has been caused by lockdowns and more people working from home.
Australian imports of coffee products increased by around 7 per cent.
Coffee has become an essential part of modern workplace culture, and increased prices allied with a reduction in supply can potentially impact workplace morale and productivity.
- Dec 2019 Business Insider. 81% of Australian employees believe coffee improves workplace conversations – but coffee breaks are costing companies millions of hours
- Jan 2020 Entrepreneurship Life. Coffee Collaboration: The Important Role of Coffee in Office Culture
- Jun 2020 Workplace Insight. The links between coffee, shared ideas and the office go back a long way
- Aug 2021 The New Daily. Coffee prices surge as Brazilian growers struggle. Here’s what it means for Australia