Along a new website, the International Coffee Organization has launched a major new coffee sector statistics and market report called the Coffee Report and Outlook (CRO).
The new 39-page report provides a macro-level overview of coffee production and consumption statistics for the global coffee sector, with trends and tables also divided into global-regional and country levels.
The overall format of the report resembles the group’s monthly global coffee market reports, although its focus is less on prices, and more on coffee production and consumption patterns with an additional focus on the outlook for the coming year.
The ICO, the not-for-profit intergovernmental organization whose membership represents the vast majority of coffee produced globally, says the CRO will be published twice per year.
The CRO introduces a new methodology for calculating production and consumption, with an added focus on the trend towards upward consumption in coffee-producing counties.
The full report is available here.
Some of the main takeaways include:
- The world coffee market is expected to see another year of production deficit.
- World coffee production decreased by 1.4% to 168.5 million bags in coffee year 2021/22, while it is expected to bounce back by 1.7% to 171.3 million bags in 2022/23.
- The “up year” in Brazil’s biennial cycle (2022/23) is expected to be lower than it has been in up years past, due to increased fertilizer costs and increased weather events.
- World coffee consumption increased by 4.2% to 175.6 million bags in coffee year 2021/22, following a 0.6% rise in the previous year. The increase is attributed in part to “pent-up demand built up during the COVID-19 years.”
- Decelerating world economic growth rates for 2022 and 2023, coupled with the sharply increasing costs of living, are expected to have a negative impact on consumption in 2022/23. Total consumption is expected to grow, but at a decelerated rate of 1.7%.
- Deceleration of coffee consumption is expected to be most pronounced in Europe. The growth rate is expected to fall to 0.1% in 2022/23, down from 6% in 2021/22.
See the full report here.
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