inside the coffee category, it also helps them to understand what does it mean from really a supply chain point of view. then everyone is trying to do his own game, but that is another issue. and, antonio, let me ask you this, because some coffee producers, rather than risk putting off consumers by increasing their prices, what they ve been doing is changing the sizes of their packaging. of course, it s become known as shrinkflation. is that something lavazza has entertained. ? i will be very strong. that is a joke because we have too much respect for our consumer. is not the changing a visible price and giving them less products that you know you do the good for your consumer. as i told you, we are smaller. so we decided to take part of a cost increase in raw materials
price and giving them less products that you know you do the good for your consumer. as i told you, we are smaller. so we decided to take part of a cost increase in raw materials because we wanted to, we wanted to increase penetration. and in fact, the last year we grew also 5% in volume. that is very tough in here, like this one, doing something like that, we consider not the serious approach towards the consumer. so we have too much respect for them. 0k. let me end on this and let s spin a yearahead. antonio, prices higher or lower than today? i still think that we didn t see yet a small piece of inflation, but we will see it on prices, let s say, before the summer, because all all companies will rise the prices in october, november, but have to argue with a trade to discuss.
the invasion of ukraine, thatjumped to $2.33 a pound. and in march this year it was trading at around $1.68. so somewhere between the two, but it s still 80% more than pre covid price. add to that the increasing cost of energy, and it s a challenge, a big challenge for big coffee companies to think about how they pass on the costs to their customers who are thirsty for their morning cup of go gojuice. so i ve been catching up with the big boss of lavazza, the iconic italian coffee giant. antonio baravalle. a real pleasure having you on the show. and, antonio, let s start with this, because this week s show, we ve been talking about how difficult it is for companies to set prices. and we ve seen coffee bean prices go up quite a lot. so i m just wondering, antonio, how have you dealt with that when it comes to setting your prices? i think that all the industry faces very, very huge cost increase. and also remembering that a company like us is buying in dollars at the new york stock marke
far. tarhub asghar, bbc news, lahore. well, let s stay with the rising cost of food. coffee bean prices on the international markets are up by around 80% since they were before the pandemic according to the boss of lavazza, one of the world s biggest coffee companies. talking to aaron heslehurst for this week s talking business weekly on bbc news, antonio baravalle says he believes there is more inflation to come. i think that all the industry faces very huge cost increase, and also remembering that a company like us is buying in dollars, the new york stock market, so the ratio between dollar and the euro is so important. so we only partially pass the cost increase to consumers, so i would say that at least 50% was absorbed by
that s the future, isn t it? l is there anything you use cash for these days? parking, you know, the pound meters, that is literally. and car washes, that is literally it. so cash may no longer be king, but in time and for some time to come, kings will be on our cash. kevin peachey, bbc news. let s talk about the relative value of the pound, euro or dollar in your pocket and rise in on the rising price of food and drink. coffee bean prices on the international markets are around 80% higher than they were before the pandemic according to the boss of lavazza, one of the world biggest coffee companies. talking to aaron heslehurst for this week s talking business weekly on bbc news, antonio baraveller says he believes there is more inflation to come. i feel that all the industry faces very, very huge cost increase and also remembering that a company like us is buying in dollars at the new york stock market. so the ratio between dollar