South Korea records first drop in coffee imports in 5 years

Coffee imports from South Korea have declined this year, according to the country's Customs Service. The decline is attributed to a drought that has impeded global grain production. According to trade statistics as of January 21, the volume of Korean coffee imports from January to July this year was 109,752 tons, a drop of 3.9% compared to the same period in 2022. The value of coffee imports also fell 9.5% to US$646.73 million. Both the volume and value of imports include coffee husks and substitutes containing coffee, whether roasted or decaffeinated. If the current decline continues through the end of the year, it will mark the first time that Korea's coffee imports have fallen in five years. Koreans' love of the beverage has driven a steady rise in the country's coffee imports. After rising from 158 thousand tons in 2018, to 168 thousand tons in 2019, 170 thousand tons in 2020 and 189 thousand tons in 2021, Korean coffee imports surpassed the 200 thousand tons mark for the ...