2021/22 PURCHASE REPORT:

  • These are contracted and spot purchases we’ve made through the end of 2021 and through 2022. Both Spot and Forward Commitment contracts.

  • Approx. 50% of the volume below that was contracted in Q1 and Q2 is managed by Idle Hands. Green traders such as Red Fox Coffee Merchants, Sucafina, Caravela and Royal have been utilized while preparing for contracted coffees to arrive. We will continue to buy a small portion of coffee via some of these traders over the remainder of the year as we prepare for 2023.

  • Where Idle Hands is listed as the importer; Idle Hands utilizes other companies and their importing licenses to move coffee into North America. In this role, we assume responsibility of the partnership in place of green traders. The average importing fee via these companies to North America for the first half of 2022 has been 0.71c per lb. This is expected to reduce in the second half of the year and into 2023.

  • Our average cost of transport from ports and warehouses to our roastery is 0.30c per lb.

Coffees

48625lbs purchased between Sept 2021 and Sept 2022 at an average FOB of $4.25

purchased

After reviewing all our collected data, our goal for the next harvest year is to have at least two thirds of our coffee volume contracted via partnerships managed by Idle Hands. This means we will trade more directly with partners in producing countries and will allow producers, growers, mill operators and local exporters to set the prices to not only cover operating costs, but profit from these transactions. Working with local businesses such as dry mills and exporters in growing countries helps keep a more equitable share of wealth in the global south.

UPDATE:

September 28, 2023

As we began preparing our 2022/23 report we looked back at this report from 2021/22 to see what we could improve upon. We had additional context we could provide to purchases and the transactions within our supply chain. How the coffee purchases and contract types looked stacked against one another; forward vs spot, using intermediaries like green traders vs direct communication with producers and exporters etc.

We hope that the 2022/23 Purchase Report provides an improved level of context to all areas of our buying decisions.