The International Coffee Organization estimates that global demand will reach 175 million sacks of 60 kilos in 2020, driven by the markets of China, South Korea and Russia.
The sophistication of consumers and a growing preference for coffee in markets such as South Korea, China and Russia will be part of the main factors driving the increase in demand for the grain in the coming years.
In the period 2014/2015 demand for coffee will exceed supply due to lower levels of grain production in Brazil.
The next coffee crop cycle will be the first since 2009/2010 in which a deficiency will be registered in the market as an overall deficit of 612,000 bags of coffee is foreseen. "2014/2015 will see the lowest level of production since 2011/2012 and the largest annual percentage decrease since 2009/2010."
If the current trend is sustained, coffee consumption could reach 134 million 60kg sacks.
Nestor Osorio, executive director of the International Coffee Organization (ICO), added they are optimistic regarding the current tendency.
From Elsalvador.com: "'If the current trend continues, we could even add an additional 2 million sacks. Even though 2009 was a crisis year, coffee consumption grew', commented Osorio'".