Coffee consumption seen rising in 2008
Total global coffee consumption could exceed 125 million 60-kg bags in 2008, up from more than 122 million this year and an estimated 120.4 million in 2006, the International Coffee Organisation said on Friday.
By TNN |
LONDON: Total global coffee consumption could exceed 125 million 60-kg bags in 2008, up from more than 122 million this year and an estimated 120.4 million in 2006, the International Coffee Organisation said on Friday.
“Buoyant world consumption is a significant factor in supporting prices,” ICO executive director Nestor Osorio said in a monthly market report, noting his forecast was based on a continuation of current growth trends.
Osorio put world production in 2007-08 at around 114 million bags, unchanged from his projection a month earlier but down from an estimated 121.7 million in 2006-07.
“Buoyant world consumption is a significant factor in supporting prices,” ICO executive director Nestor Osorio said in a monthly market report, noting his forecast was based on a continuation of current growth trends.
Osorio put world production in 2007-08 at around 114 million bags, unchanged from his projection a month earlier but down from an estimated 121.7 million in 2006-07.
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