Coffee Service

Lavazza predicts earnings fall from rising costs

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July 7, 2023

Lavazza, the Turin, Italy based coffee and coffee equipment manufacturer, has warned it will suffer a double-digit drop in earnings this year caused by coffee bean costs and its prices are not expected to decline until 2024, according to an msn.com report.

The company raised its prices 6.2% in 2022, but saw costs almost double.

Coffee bean costs have jumped 80% over the past two years, reflecting higher energy and freight costs and the stronger dollar.