Global coffee demand grows at an average annual rate of 2.5% before 2020

The National Coffee Organization (OIC) predicts that global coffee demand is expected to grow at an average annual rate of 2.5% in the next six years, driven by strong demand from China, Russia and other countries. Demand will reach 175 million bags (60 kg each) in 2020, compared with 149.45 million bags in 2014.

The agency said that the global production gap this year is 800000 bags, but there is no need to worry about this situation, the market will carry out relative adjustment and balance, and Brazil is expected to adjust its inventory. Emerging markets with faster coffee growth, such as China and Russia, will grow at an average annual rate of 4% to 4.5%, while traditional markets will grow by 1% to 1.5%.