Not long ago, coffee cultivation was mainly limited to the highlands of Ethiopia, its birthplace. However, today, this beloved beverage is grown in approximately 70 countries worldwide. Although not all of them export their coffee beans, 50 of them are known as coffee exporters on a global scale.
|Rank||Country||Amount Produced in Metric Tons|
Source: worldcoffeebar.com (Top 10 Coffee Producers in 2022)
Coffee is the most traded food product and the most popular beverage worldwide. It is also the second most traded commodity globally, with only oil surpassing its trade volume. According to expertmarketresearch.com, the global coffee market attained a value of USD 126.38 billion in 2022, driven by the growing awareness of the numerous health benefits associated with coffee consumption. The market grew at a compounded annual growth rate (CAGR) of 4.82Pct in 2018 – 2022 and is expected to grow at 6.7Pct in 2023 – 2028.
Brazil, Vietnam, and Columbia are the world’s largest coffee producers. For many decades, these countries have been known to be the powerhouse of coffee production at a global scale, while Coffee exports from Africa were valued at over USD 3.6 billion in 2022. Ethiopia leads African exporters, earning around 1.5 billion U.S. dollars from coffee exports in 2022, while Uganda follows with an export value of nearly USD 813 million. Although 2023 is not over yet, the coffee business globally has faced a nosedive as Brazil, a country that produces more than a quarter of the global coffee supply, had good weather, and production is at an all-time good. As a result, supply has significantly increased, causing a massive price decline. Ethiopia, which aimed to get more from Coffee export for the year, has faced a challenge as the declining price of coffee globally hasn’t been workable for many of its exporters.
11th Year • September 2023 • No. 121 EBR