Global consumption of coffee is likely to climb by 1% to 2% a year through the end of the decade. International Coffee Organization Executive Director Vanusia Nogueira estimated about 25 million more 60-kilo bags will be needed over the next eight years. The global market will reach a balance in supply and demand in the next two or three years, from a deficit now, she said.
According to International Coffee Organization Executive Director Vanusia Nogueira, global coffee consumption is expected to rise by 1% to 2% per year through the end of the decade, requiring an additional 25 million 60-kilo bags over the following eight years.
“We are more conservative now for a short-term prediction,” Nogueira said at a Vietnam Coffee-Cocoa Association meeting in Hanoi, pointing to all of the world’s happenings, including rising inflation in Europe and the war in Ukraine. She noted that the group’s previous estimates for long-term consumption growth of 3.3% per year were “overly optimistic.”
The worldwide market will balance supply and demand in the next two or three years, up from a deficit presently, according to Nogueira in a Bloomberg interview.
She believes that the world needs more arabica and robusta beans, but that robusta production and demand will expand faster. Traditional arabica growers are attempting to cultivate more robusta in the face of global warming, while roasters are looking for cheaper robusta to add to their blends. “If you have higher grade robusta, people will not notice a significant difference in the mixes.”
Many markets are seeking for quality robusta, according to Nogueira. Vietnam is “quite well” doing its homework on expanding to high-quality robusta production, she said, recalling her surprise at tasting three sets of “very good” coffee cups during a day earlier visit with a group of international guests to a coffee shop owned by the country’s second-largest exporter Vinh Hiep Co.
According to Nogueira, the organisation does not believe that Brazil’s additional production of conilon would harm Vietnam’s worldwide supremacy in robusta exports because the extra output will go to serve the South American country’s soluble industry, which is the world’s largest. She believes that producing countries must increase domestic consumption in order to improve pricing and benefit their economies.
Do Ha Nam, vice chairman of the country’s coffee organisation, stated during the same conference that Vietnam expects domestic coffee consumption to rise 5% to 10% in the future years, from the present 300,000 tonnes, which includes 170,000 tonnes used for instant coffee manufacture.
Nam, also the head of the country’s largest shipper, Intimex Group, forecasted that exports from Vietnam will fall in 2022-23 due to weaker output and little carry-over supplies from the previous season.
According to its website, the International Coffee Organization is an intergovernmental organisation of exporting and importing nations that represents more than 90% of global production and more than 60% of global consumption.
Every year, Americans consume 146 billion cups of coffee.
Add up all of the millions of cups of coffee eaten by Americans each day, and the country’s yearly average is 146 billion cups of coffee. The average yearly coffee intake in the United States is roughly nine pounds.
According to Hu, moderate coffee consumption (approximately 2-5 cups per day) is associated with a decreased risk of type 2 diabetes, heart disease, liver and endometrial malignancies, Parkinson’s disease, and depression. It’s even feasible that coffee drinkers can lower their chance of dying young.
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