Singapore among the priciest as coffee prices soar globally
As coffee prices skyrocket worldwide, Singapore stands out as one of the priciest places for a cappuccino in 2024, according to Numbeo, an online cost-of-living database.
The average price for a regular cappuccino in the city-state has reached a staggering $6.21, reflecting a global coffee price surge.
This increase is attributed to a variety of factors, including extreme weather in key coffee-producing countries, supply chain disruptions, and rising dairy costs, all of which are pushing up the price of the beloved brew.
Coffee-producing giants like Brazil, Vietnam, and Colombia are feeling the impact of climate challenges.
Severe weather conditions in Brazil, the world's largest coffee producer, have caused significant crop losses, pushing global prices to record highs.
In Vietnam, where coffee accounts for 17 per cent of global production, coffee growers are shifting to the lucrative durian fruit, further tightening supply.
Meanwhile, in Colombia, the third-largest producer, escalating costs of fertiliser and labor have reduced harvest yields, contributing to the price hike.
While Singapore's coffee prices remain relatively high compared to other coffee-producing countries, the price is still far lower than in Denmark, the UAE and Switzerland, where cappuccinos top $7.78, $7.73 and $7.46, respectively.
The sharp rise in coffee prices globally has even led Singaporeans to brew more coffee at home, with 31 per cent of people cutting back on café visits due to soaring costs, according to a YouGov survey.
However, Singapore’s demand for quality coffee remains steady, with specialty coffee chains and global players like Starbucks pushing the prices upward.
Among the major coffee producers, Brazil still offers relatively affordable coffee at $2.10 per cappuccino, despite its ongoing production struggles.
Ethiopia, the fourth-largest producer, offers one of the most affordable cups at just $1.53, benefiting from domestic supply but facing its own challenges due to new deforestation regulations.
In contrast, Vietnam’s prices are rising, with cappuccinos now averaging $2.31 in Ho Chi Minh City, largely due to supply constraints as farmers pivot to durian.
With coffee demand continuing to rise, particularly in Asia, prices are unlikely to dip anytime soon.
From Manila to Jakarta to Kuala Lumpur, coffee culture is thriving, and while coffee prices are climbing, so is the public’s appetite for their daily fix, making the global coffee market more dynamic than ever.
You can compare Singapore's price of a cup of cappuccino with other countries here.