Eastern states readers are entering the final stretch of the working week (hi from the west!).
If you’re reaching for that cuppa to get you through to the end of the day, here are some cool stats about the global trade in coffee and tea courtesy of S&P Global Market Intelligence.
In the 2023 calendar year, 8.88 million metric tonnes (mmt) of coffee was traded around the world, with Brazil, Vietnam and Columbia being the main exporters.
Unsurprisingly, the USA was the major importer, buying 18pc of the coffee traded, while all the European countries in the top 10 accounted for around 42 per cent of imports.
For tea, global trade volume came in at 1.89mmt, with China and Kenya being the major exporters.
The USA and Germany were the only countries in the top 10 for both coffee and tea imports.
By 2040, coffee and tea trade volumes are forecast to grow to 10.73 mmt and 2.14 mmt, respectively, at compound annual growth rates (CAGRs) of 1.1pc and 0.7pc, respectively, from 2023.
More fun facts about the trade in the world’s favourite comfort beverages: one kg of roasted coffee beans yields 111 cups, while one kg of tea leaves can produce up to 400 cups.
In 2023, the world traded the equivalent of 986.0 billion cups of coffee and 757.9 billion cups of tea. By 2040, the numbers are expected to increase to 1.2 trillion coffee cups and 856.2 billion tea cups.
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