Global coffee consumption points to possible deficit in the market
Raw Common Coffee Bean
Mexico
Market & Price Trends
Published Nov 22, 2023
Tridge summary
Global coffee production for the period between October 2022 and September 2023 increased by 1.7% compared to the previous twelve months, reaching a total of 171.3 million 60kg bags. Of this, 57.5% is Coffea arabica and 42.5% is Coffea canephora. Global coffee consumption is estimated to increase by 1.6% in the current coffee year, potentially leading to a predicted deficit of approximately 7.2 million bags.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
According to data released by the International Coffee Organization (ICO), global coffee production in the period between October 2022 and September 2023 reached a total of 171.3 million 60kg bags. This volume represents a slight recovery of 1.7% compared to the previous twelve months. Of this total, 98.6 million bags (57.5%) are of Coffea arabica, while 72.7 million bags (42.5%) are of Coffea canephora (robusta+conilon). See also: Brazilian coffee is voted the best in the world Considering global coffee consumption in the previous twelve months (coffee year 2021-2022), which totaled 175.6 million bags, estimates point to an increase of 1.6% in consumption in the current coffee year, reaching to 178.5 million bags. If these numbers are confirmed, the world coffee market could face a new year with a predicted deficit, as global consumption is expected to exceed production by approximately 7.2 million bags. The ICO Coffee Market Report – October 2023, available at the Coffee ...
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