Each year GCR invites industry leaders to share their hopes, fears and expectations for the year ahead, in what is expected to be one of rejuvenation and unity for the global coffee market.
In the last several years, world coffee consumption has been growing 2 per cent per year, and in the case of specialty coffee at rates of 10 per cent. Because of its high quality, Colombian coffee, both standard and specialty, is in very good demand, so the prospects for 2022 are good.
Add to this that, thanks to the global pandemic and better-quality products, coffee consumption at home grew substantially. The industry will continue innovating to captivate more palates. The challenge is not only to keep home consumption, but to increase world coffee consumption as a whole, leveraging reactivation of coffee shops. Innovation is the keyword to keep on the rise.
For several years, we have been insisting on promoting the great diversity of specialty coffees that Colombia offers, highly differentiated exceptional coffees that represent a better income for producers, and we will continue working in that sense. Today, consumers are more prepared, having evolved to enjoy what Colombian coffee can offer.
With a production close to 13.5 million 60-kilogram bags and a very good price in 2021, the value of the coffee crop should reach COP$11 trillion (US$2.97 billion), which confirms the coffee sector as a key engine of the country’s economy. And with this good precedent, 2022 should also show good results.
Current high prices should also motivate coffee growers to renew their coffee plantations and invest in their farms, so that their businesses are more productive and bring development to coffee regions.
This article was first published in the January/February 2022 edition of Global Coffee Report. Read more HERE.