Increased purchasing power has triggered the consumption of coffee in the leading producers in the world, Colombia, Brazil and Vietnam, raising its international price.

The three countries which together produce 60% of the grains consumed in the world, are increasing their local consumption of coffee, putting pressure on the export supply and raising grain prices around the world. According to the firm Euromonitor, cited in an article by The Wall Street Journal, “…Projections are that packaged coffee purchases in Brazil will amount to 1.03 million tons per year, surpassing the United States as the largest consumer of coffee in the world for the first time since at least 1999 ”

“…As incomes rise, consumers are putting aside cheaper drinks such as tea, and are demanding higher quality grains, often the same varieties used by large roasters in the USA and Europe. ”

“…The shift to higher quality beans is restructuring patterns of in the global coffee trade. During the last decade, grain crops in Brazil grew by 61%, but exports went up by 34%, with the rest going to the domestic market. “

Source: The Wall Street Journal