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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 market. so the ratio between dollar and euro is so important. so we only partially pass the cost increase to consumers. so i would say that at least 50%
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 market. so the ratio between dollar and euro is so important. so we only partially pass the cost
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 market.
50% was absorbed by the company and 50% was absorbed by the company and 50% was given back to the industry, to the market. but again, this is the fact we can do it because we are a family company. the fact we can do it because we are a family company-— the fact we can do it because we are a family company. and, antonio, who neuotiate a family company. and, antonio, who negotiate with — a family company. and, antonio, who negotiate with all _ a family company. and, antonio, who negotiate with all the _ a family company. and, antonio, who negotiate with all the big _ a family company. and, antonio, who negotiate with all the big retailers - negotiate with all the big retailers around the world. how difficult of those negotiations been, given these surging prices? i those negotiations been, given these surging prices?— surging prices? i would say it's a very tough _ surging prices? i would say it's a very tough discussion _ surging prices? i would say it's a very tough discussion but - surging prices? i would say it's a l very tough discussion but probably thanks to our past years history and the credibility that we've got on the credibility that we've got on the market, we have always been able at the end to find the rights with them, but not an easyjob. and you can see the full interview with antonio baravelle on this week's talking business with aaron heslehurst on bbc news at 11:30 this evening in the uk and at other times around the world in the days ahead. in other news:
nationally with have you been good back? sam mckenzie, knoxville, honey glam montgomery county here. antonio opened. that's right. three of us. that's right. that's right family. that's right. born providence hospital. your family had money i was going to cut. jason powell, nashville with you. thank you, erin campbell course. of course. it's good to be okay. come, let's come in, please. because that was vice president kamala harris at fisk university meeting with the democratic lawmakers from the tennessee state house republicans abby and phil have some 75 of those seats
partially, asked the plastic because increase the consumers. i would say that 50% was absorbed by the company and 50% was given back to the industry. through the market. again, this is after the fact that we can do it because we are a family company. do it because we are a family company-— do it because we are a family coman . �* ., ., ., ., company. antonio, you negotiate with all the _ company. antonio, you negotiate with all the big _ company. antonio, you negotiate with all the big retailers - with all the big retailers around the world. i'm wondering, how difficult have been those negotiations given the surge in prices? i been those negotiations given the surge in prices?— the surge in prices? i would sa , the surge in prices? i would say. it's _ the surge in prices? i would say. it's a — the surge in prices? i would say, it's a tough _ the surge in prices? i would say, it's a tough discussion. but probably thanks to our past years history and the credibility that we also have on the market, we have always been able at the and to find the right plan. it is not an easyjob. the right plan. it is not an easy job-— the right plan. it is not an eas 'ob. �*, ,, ., easy job. let's spend a year ahead. would _ easy job. let's spend a year ahead. would prices - easy job. let's spend a year ahead. would prices be - easy job. let's spend a year i ahead. would prices be higher or lower than today? i
we'll be looking at the story of the man who's made it to the top of scottish politics, and we'll be asking about the major challenges he now faces. and our other main stories also on the programme tonight: prince harry arrives unexpectedly at the high court in london in a privacy case against the daily mail and mail on sunday. mass protests and widespread strikes across israel may force the government to postpone its controversial plans to appoint judges. and people are urged to stay out of the water in poole in dorset and coming up, questions are taught hotspur after they part ways with antonio, who is next for the premier league stance? good evening from edinburgh.