Anders Fredriksson says 2023 was a year of growth for Löfbergs. He shares his thoughts with GCR on what to expect in 2024.
Our sales volume grew 15 per cent compared to 2022. We experienced a positive development in all our markets, not least in Sweden where we have regained the position as market leaders. Our success is the result of all engaged employees working together towards a common goal.
In 2024, Löfbergs focus will be on continued growth while managing a more volatile world.
The world is more unpredictable than it has been in the past 50 years. All European coffee industries are dependent on global supply chains that will be more difficult, and more expensive to maintain.
True impact in developing countries is more important than ever, especially for the coffee industry. Balancing that with investing in European Union compliance for all new legislation will be a big undertaking. Several new sustainability legislations will significantly impact the coffee industry, drive our complexity, and cost, The Deforestation Regulation, the Corporate Sustainability Due Diligence (CS3D) Directive, to name two, will introduce the need for a new level of traceability requirements and country risk level benchmarking for all in the industry. It is the most comprehensive new legislative requirements the European coffee industry has ever faced in such a short time.
At Löfbergs, will continue to address our climate and environmental impact. I have great hope that GrowGrounds, a start-up spun off from Löfbergs, that aims to eliminate coffee’s negative CO2 impact, help restore nature, and ensure better living conditions for coffee farmers, will have a positive impact.
Just a few years ago, everyone took global free trade for granted. In the coming years, free trade is something we must work hard to keep. The big challenges that humanity faces include climate change, pandemics, AI, and wealth distribution, to name a few. They must be solved by the global community, and the backbone of that cooperation is free trade. I sincerely wish that the polarisation of the world and the slow breakdown of global free trade will reverse in 2024.
This article was first published in the January/February 2024 edition of Global Coffee Report. Read more HERE.