Global coffee consumption rises by 1.7% to 137.9 million bags in 2011

The world’s consumption of coffee is on rise as per data released by the International Coffee Organisation (ICO). Consumption of the brew rose by 1.7% to an estimated 137.9 million bags in the 2011 calendar year as against 135.6 million bags (of 60 kg each) in the 2010 calendar year.

Coffee consumption in the world has been growing at an average annual rate of 2.5% in the past 12 years. The increase has been seen in both emerging economies and exporting countries. However, there are certain countries, which have shown a decline in consumption.

These include certain traditional markets in south Europe like Spain and Itlay where coffee consumption has diminished due to high retail prices and an unstable macroeconomic environment. Fall has also been witnessed in certain emerging markets, such as Korea, Algeria and Ukraine depicting the sensitivity of the brew to increasing prices.

However, experts are of the view that the consumption of coffee will increase in the coming times. This is because there has been a considerable increase in its exports and in the margins earned from it. Total coffee exports for the calendar year 2011 have been estimated at $23.5 billion for a total volume of 102.4 million bags of 60 kg each against $16.7 billion for a volume of 96.8 million bags in 2010. As per the government-run Coffee Board of India, the total global annual trade is valued at around $120 billion.