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Readers in the Eastern states are entering the final stretch of the work week (hello from the West!).
If you’re looking for that cup of tea to get you through the day, here are some interesting statistics about global trade in coffee It is tea courtesy of S&P Global Market Intelligence.
In calendar year 2023, 8.88 million metric tons (mmt) of coffee were traded worldwide, with Brazil, Vietnam and Colombia being the main exporters.
(S&P Global Market Intelligence)
Not surprisingly, the US was the largest importer, purchasing 18% of the coffee traded, while all European countries in the top 10 accounted for around 42% of imports.
For tea, the global trade volume stood at 1.89 million tonnes, with China and Kenya being the main exporters.
The US and Germany were the only countries in the top 10 for coffee and tea imports.
By 2040, coffee and tea trade volumes are projected to grow to 10.73 million tonnes and 2.14 million tonnes, respectively, at compound annual growth rates (CAGR) of 1.1% and 0.7%, respectively, from 2023.
More fun facts about the trade in the world’s favorite comfort drinks: One kilo of roasted coffee beans yields 111 cups, while one kilo of tea leaves can yield up to 400 cups.
In 2023, the world sold 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 cups of coffee and 856.2 billion cups of tea.
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