Brazil, a coffee-producing country, is expected to boost exports sharply as world demand for coffee rises
According to recent survey data released by the Brazilian Coffee Export Council (Cecafe), Brazilian coffee exports to China exceeded 1 million bags (60 kg / bag) for the first time, totaling 1151768 bags, which are expected to continue to grow in the future. The European Union remains the largest exporter of Brazilian coffee, with Brazilian exports to the EU reaching 5 million bags (60 kg / bag) in 2023, totaling 5470729 bags.
According to Brazil's Sao Paulo newspaper, coffee consumption in China increased significantly during the 2022 / 23 coffee season, mainly due to the growth of coffee shops in several Chinese cities and the rising demand for coffee among Chinese young people. This growth is very beneficial for Brazil, one of the world's leading coffee exporters.
According to the report "Coffee: global Market and Trade" released by the United States Department of Agriculture (USDA), the global coffee production by the end of 2023 / 24 is estimated to be 171.4 million bags, an increase of 6.9 million bags over the previous year. Mainly due to increased production of Arabica in Brazil, the European Union, the United States, Japan and Brazil remain the world's largest coffee consumers and regions, and there has been a recent upward trend in China.
EU coffee imports will increase by 100000 bags to 4.6 million bags, accounting for 40 per cent of global coffee imports. Mainly from Brazil (40%), Vietnam (20%), Uganda (8%) and Honduras (7%). The final inventory will be reduced by 400000 to 12.4 million bags, while consumption will increase slightly.
Coffee imports from the United States increased by 500000 bags to 25.5 million bags. Mainly from Brazil (30%), Colombia (19%), Vietnam (10%) and Honduras (7%). The final inventory is expected to increase by 300000 bags to 6.5 million bags.
It is estimated that China's coffee consumption will reach 5 million bags in 2023, making it the seventh largest coffee consumer in the world. According to the International Coffee Organization (ICO), China's coffee consumption in 2022 in 23 increased by 15% year-on-year to 3.08 million bags. At the same time, China imported 1.15 million bags of coffee from Brazil, more than double the volume traded in the same period in 2022. China has become the eighth major export destination for Brazilian coffee.
Earlier, World Coffee Portal, a research organization owned by Allegra Group, released the latest annual report on the Southeast Asian coffee market. It shows that China has overtaken the United States to become the country with the largest number of brand coffee shops in the world. However, there is still a gap between coffee consumption and the United States and the European Union, but there is still a lot of room for growth in the future. At present, Brazil is also seeking cooperation with China to develop Brazilian coffee trade projects.
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