There is a serious shortage of coffee beans in the world, and overseas buyers have set their sights on China's producing areas.

Asdak News Agency, October 29, due to the continuous drought in Brazil, the world's largest coffee producer, and the sharp decline in coffee bean production, international buyers have set their sights on the Chinese market. Volcafe, a US food company, announced on Tuesday that it would set up a joint venture in China to buy and sell coffee beans grown in Yunnan province.

Analysts believe that although China accounts for less than 1% of the world's coffee bean production, it still has a new source of goods despite the sharp drop in global coffee bean production.

At present, many international enterprises, such as Nestl é and Starbucks, have also set up coffee bean purchasing sites in Yunnan. According to the Brazilian National Coffee Association, due to the severe drought in Brazil, coffee bean production this year will reach 2.46 billion kg, nearly 20% less than last year, while next year production will fall to less than 2.4 billion kg, the worst decline in 50 years.

Brazil is the world's largest producer of Arabica beans, the main source of raw materials for coffee shops, and its prices have nearly doubled so far this year. China's mild-flavored Arabica beans are a relatively new breed in the global coffee market but are rapidly gaining recognition from coffee lovers around the world, according to the global head of commodities trader ED&F Man.

According to Volcafe, the annual output of coffee beans in Yunnan is usually more than 60, 000 tons. According to the latest news from Yunnan Coffee Industry Association, Yunnan coffee planting area accounts for more than 95% of the country, and coffee output is expected to reach about 120000 tons this season.

Among the domestic A-share listed companies, 600572.SH is involved in the coffee business, and its products include instant coffee and coffee bean powder, and raw beans are produced in Yunnan. In addition, Yunnan Conbe Coffee Co., Ltd., invested by Conbey Group Co., Ltd., the controlling shareholder, is mainly engaged in coffee research and cultivation.