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Global coffee consumption is likely to fall considerably as a result of the coronavirus pandemic. This was estimated by the International Coffee Organization (ICO) in its March monthly review. According to the organization, containment measures applied to almost half the world’s population could significantly affect out-of-home coffee consumption. In addition, according to the ICO, the 2019/2020 coffee year is expected to have a supply deficit of 4.7 million bags. In addition, there are many concerns about the supply of the robusta variety in Vietnam. “The coffee trade has stopped in Vietnam. Transport is also badly affected and the ports are idling,” says Michaela Helbing-Kuhl, analyst at Commerzbank. As a reminder, 35,000 cups of coffee are consumed every second on the planet. The USA is the largest market in terms of both volume and value, with three-quarters of the population drinking coffee every day.
Source: Ecofin Agency