NEW YORK (Commodity Online): Coffee, the most preferred beverage worldwide, is likely to witness robust growth in terms of both consumption and trade amid recovering economies, according to the latest report by Global Industry Analysts, Inc.
The global coffee consumption, annually, has crossed 400 billion cups. Coffee is regarded as the highest consumed beverage in developed countries such as, the US and major European countries.
Despite the financial crisis being at its peak during the last quarter of 2008 and all through 2009, coffee performed well in terms of overall consumption, indicating that people continue to indulge in this little luxury come what may.
Presently, the global economic crisis is cooling and is expected to boost the coffee demand.
Meanwhile, according to International Coffee Organisation (ICO), the global coffee production for 2011-12 is expected to fall by 2.6 mn bags due to bad weather conditions in Latin America and Asia to 127.4 million bags.
While, India's coffee production for 2011-12 financial year is estimated to be around 3,22,250 tons.
The top coffee producers are Brazil, Vietnam, Indonesia and India.
On Inter-Continental Exchange (ICE), coffee for March delivery traded at 215.30 cents on 10th February.
