Turbulent World: FORE CEO Discusses Potential Coffee Price Increase

Jakarta, CNBC Indonesia - PT Fore Kopi Indonesia Tbk (FORE) has addressed the potential increase in the prices of its raw materials and products amid economic and global uncertainties. FORE’s President Director, Vico Lomar, stated that the impact of the Strait of Hormuz closure is already being felt in Indonesia, particularly through rises in non-subsidised fuel prices. According to him, the prices of the company’s product raw materials are likely to increase slightly, while plastic prices are experiencing the highest rise. Vico also acknowledged that FORE’s vendors have submitted proposals for price increases. However, the company has taken anticipatory measures through binding agreements that lock in raw material prices with vendors. “We are anticipating this by locking in or through annual contracts for raw materials. The raw materials that seem likely to rise this year,” Vico explained during FORE’s virtual Public Expose on Monday (11/5/2026). Therefore, FORE has no plans to raise its product prices until the end of 2026. Nevertheless, Vico stated that the company will remain alert to the impacts of the US-Israel and Iran war, as well as the Strait of Hormuz closure, on Indonesia’s economy and the company’s performance. “So, this year we will not; there are no plans to raise prices for Fore Kopi itself. However, we will continue to monitor how far the impact or how long the war in the Strait of Hormuz will affect Indonesia’s economy as a whole and the company’s economy moving forward,” he clarified. On the same occasion, FORE Director M. Fahmi Rachmattulah stated that the company will continue to grow by adding more outlets this year. He detailed that last year the company built 90 outlets, and this year it targets building more than 100 new outlets covering the Fore Coffee and Fore Donut brands. To support this, the premium coffee company has allocated a capital expenditure (capex) budget of Rp250 billion this year. Fahmi broke it down as Rp200 billion for Fore Coffee and Rp50 billion for Fore Donut. Director Tjhong Pie Chen explained that the Rp50 billion capex for Fore Donut will be used for developing a central kitchen.