According to data from Eurostat, in 2023, the EU imports 4.05 million tons of coffee, worth 20.79 billion USD; down 9% in volume and 10.2% in value compared to 2022.
Article published in newspaper Agricultureclick here to view the original article.
The reason why the European Union (EU) reduces coffee imports in 2023 is due to economic recession and high inflation, causing people to tighten spending.
Regarding supply structure, in 2023, the EU’s coffee imports from the internal market will reach approximately 1.31 million tons, worth 9.26 billion USD, down 6.8% in volume and 0.1% in value. value compared to 2022. In particular, traditional coffee supplies within the EU include: Germany, Belgium, Italy, Netherlands, France.
For foreign markets, in 2023, the EU imported 2.74 million tons of coffee, worth 11.53 billion USD, down 10% in volume and 17% in value compared to 2022.
Of which, the EU imported coffee from Brazil reaching 921.8 thousand tons, worth nearly 3.57 billion USD, down 11.6% in volume and down 24% in value compared to 2022. Brazil in total EU imports from the world, decreasing from 23.41% in 2022 to 22.74% in 2023.
EU coffee imports from Vietnam reached 652,000 tons, worth 1.66 billion USD, down 1.4% in volume and down 0.02% in value compared to 2022. Vietnam’s coffee market share in the total EU imports from the world increase from 14.85% in 2022 to 16.08% in 2023.
In 2023, the EU reduces coffee imports from Colombia and Switzerland markets, but increases imports from Honduras.
Many forecasts show that, although the EU reduces coffee imports in 2023, when the economy recovers, European demand for coffee will increase again.
According to the European Coffee Federation, the EU has the highest per capita coffee consumption in the world, although consumption levels in member markets vary.
The size of the European coffee market is expected to reach 47.88 billion USD in 2024 and is forecast to reach 58.14 billion USD in 2029, an average growth of 3.96% in the period 2024 – 2029.
Coffee is one of the most popular drinks in Western Europe because it is deeply ingrained in culture and widely used in consumers’ daily lives. In addition, demand for coffee is also increasing in the region due to the number of new coffee shops opening, the development of coffee shop chains and the increasing number of people buying coffee machines. Therefore, Europe is considered a large potential market that any coffee producing country wants to exploit.
According to the newspaper Agriculture (source link)
