Global coffee demand rose 2% year-on-year in fiscal year 2011-2012

Against the backdrop of rising coffee use in major emerging markets, especially in Asia and South America, global coffee demand rose 2 per cent year-on-year in the 2011-2012 fiscal year, US media reported on May 17th.

Against the backdrop of rising global coffee consumption and low listings, the futures contract price of coffee is likely to exceed $2236 per ton by the end of May 2012, according to a new Bloomberg survey. Currently, coffee futures contracts for delivery in July 2012 are down 1.25 cents from a year earlier to 176.75 cents a bushel on ICE.

It is also reported that coffee consumption has increased in India due to the fact that coffee drinks are particularly popular among young people and the growing momentum of the domestic coffee market in India. India is expected to produce about 322000 tons of coffee products during the 2011-2012 fiscal year. During the 2012-2013 fiscal year, global coffee production held steady at around 146 million packs (60kg each).

(responsible Editor: Leo)