Coffee consumption in Brazil rises 1.1% and revenue soars with prices, says Abic

By Roberto Samora SÃO PAULO (Reuters) - Coffee consumption in Brazil from November 2023 to October 2024 increased 1.1% compared to the same period last year, amid higher prices for the product on supermarket shelves after a failed harvest in the country, according to data from the Brazilian Coffee Industry Association (Abic), released on Wednesday. Brazil, the world's largest producer and exporter and the world's second-largest consumer of coffee, consumed 21.9 million bags (equivalent), versus 21.68 million bags from November 2022 to October 2023, with the roasted product industry in the country registering a jump of more than 60% in domestic revenue amid higher prices, according to Abic. The consumption volume represents 40.4% of the country's 2024 harvest, estimated by the National Supply Company (Conab) at 54.21 million bags, while in the previous period the total consumed represented 39.4% of the official harvest forecast, according to Abic. Although coffee harvest ...