The Coffee Report and Outlook April 2023
Click here to read the annual report compiled by the International Coffee Organization. The report highlights the main patterns in global coffee production and consumption, and forecasts how the coffee commodity market will be expecting to move in 2023.
Some key points we noticed:
- Adverse weather effects have led to lower coffee growth in the previous year. Hurricanes Eta and Iota hit Central and South America, in addition to previous frost and drought in Brazil affected the coffee production.
- More Arabica coffee is being supplied from the historically Robusta-rich Asia and Pacific regions, led by Timor-Leste, Yemen, and Laos.
- Decelerating world economics growth rates and increased costs of living will most likely affect consumption patterns negatively. Consumption growth is forecasted to grow by 1.7%, compared to 4.2% in the previous year.