Growing Colombian Coffee Exports to China, Main Topic Of Coffee Exporters Association Summit
Growing Colombian Coffee Exports to China, Main Topic Of Coffee Exporters Association Summit
Bogota (Coffee Network)-The Colombian coffee exporters association (Asoexport) is holding its 88th version of the Coffee Summit on November 7-8 with the association paying strong attention to growing coffee exports to China, which is on its way to becoming the second largest buyer of Colombian coffee.
Colombia exported 403,066 bags of 60 kig in January-August, becoming the sixth largest buyer of Colombian beans. The world’s third largest coffee producer shipped 7.8 million 60kg bags in January-August, with a growth of 16% compared to the same period in 2023, with an income of US$2.19 billion, according to figures from Asoexport. million,
According to figures from the National Federation of Coffee Growers (FNC) along with tax figures from Dian, in the first quarter of 2024, China became the second most important buyer of Colombian coffee, behind the United States, and although at the end of the year it will be the sixth, projections give indications that in the coming years it could consolidate itself in second place, Asoexport said. This Asian country went from being the eighteenth destination for Colombian coffee exports in 2019 to the sixth destination in 2023.
“Without a doubt, China is a very attractive market for the country’s coffee exporters, because consumption has been increasing strongly year after year and it is essential for our coffee to accompany this growth. Likewise, the Coffee Summit will be the occasion to address fundamental issues for the industry such as the European Green Pact, artificial intelligence applied to coffee consumption and other supply and demand trends worldwide,” said Gustavo Gómez, president of Asoexport.
This topic along with global consumption trends as well as the European Green Pact and artificial intelligence applied to coffee consumption will be discussed during the 88th coffee conference to be held in Cartagena between November 7 and November 8.
According to an analysis by market research firm Mordor Intelligence, the size of the Chinese coffee market is estimated at US$2.06 billion in 2023. It is expected to reach US$2.26 billion in 2028, registering a compound annual growth rate of 1.90% over the forecast period (2023-2028).
The report highlights that the growing demand for coffee in China can be attributed to a resilient chain of national and international coffee shops, such as Luckin Coffee and Starbucks, which have expanded significantly in China, making coffee more accessible and familiar. In addition, the growth of e-commerce platforms has made it easier for consumers to purchase high-quality coffee. He adds that, “while tea remains the traditional drink in China, demand for coffee continues to grow, especially in urban areas and among working professionals. According to data from the China Coffee Association of Beijing (CCAB), coffee consumption is increasing at an annual rate of 15%.”
Javier Díaz, president of the Colombian exporters association Analdex said the international price of coffee has reached very interesting highs for Colombian exports. By 2025, if the harvest in Brazil is going to have difficulties, Colombia can continue to gain ground in different markets abroad.”
Schedule
During the first day of the event, on Thursday, November 7, there will be a field visit
to the Cartagena port terminal and wine and coffee tastings, as well as a welcome cocktail, by Colombian bank Davivienda.
On Friday, November 8, the inauguration will be held by Francisco Gómez, president of the Board of Directors of Asoexport; Javier Díaz, president of Analdex; Gustavo Gómez, president of Asoexport, and Ricardo Bonilla, Minister of Finance and Public Credit.
Then there will be the conference ‘Global panorama of coffee supply and demand’, by Keith Flury, director of Research and Analysis of Coffee at Sucden. After a break, it will be the turn of Xavier Mallol, CEO and co-founder of Delectatech, with the talk ‘Artificial intelligence applied to coffee consumption’. To conclude the morning block, there will be a panel entitled ‘Is Colombia ready to comply with the European Green Pact?’, with the participation of the European Union Cooperation in Colombia; the Ministry of Agriculture and FNC.
By Diana Delgado
