World coffee consumption would reach 164.8 million bags in the 2020/2021 campaign, recovering the pre-pandemic level

Published 2021년 7월 14일

Tridge summary

Global coffee consumption saw a decrease of 1.4% in the 2019/2020 campaign, but is expected to recover and surpass pre-pandemic levels in the 2020/2021 campaign, with a growth of 1.4% to 164.8 million bags. Consumption is projected to continue growing at a strong rate in the next five years. The retail value of coffee worldwide is expected to see a compound annual growth rate of 5% for the 2020-2025 period. However, the price of coffee beans has significantly increased due to lower than expected bean production in Brazil and other major producing countries. The world coffee harvest is estimated to have a deficit of 3.5 million bags in the 2021/2022 campaign. The coronavirus pandemic has also changed coffee consumption habits, leading to an increase in household consumption and a shift towards cheaper options.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

(Agraria.pe) In the 2019/2020 campaign, world coffee consumption fell 1.4%, however it is already recovering, said Guilherme Morya, senior analyst in the Research and Sector Analysis Department of Rabobank Brazil. He explained that in the 2018/2019 campaign, global coffee consumption amounted to 164.9 million bags (60 kilos each) and in the 2019/2020 campaign it reached 162.6 million bags, registering a reduction of 1.4%. Likewise, he indicated that consumption is projected to grow 1.4% at the close of the 2020/2021 campaign, reaching 164.8 million bags (recovering the pre-pandemic level). In addition, in the 2021/2022 campaign, consumption would reach 168.8 million bags, representing an increase of 2.4%. "For the next 5 years, strong growth in coffee consumption is projected worldwide." Price of coffee in retail will increase At another time, the specialist indicated that the compound annual growth rate (CAGR) of the value of coffee in retail (retailers) worldwide in the period ...

Source: Agraria