Due to a poor harvest this year, the global coffee market has faced a severe shortage of raw materials, and futures are at their highest since 2011. The Ethiopian Ambassador guaranteed that his country is ready to increase supplies to Russia upon request
Ethiopia is ready to increase the volume of coffee exports to Russia, said “RIA Novosti” the country's ambassador to Moscow, Alemayehu Tegenu. According to him, such a request may appear amid expectations of rising prices due to crop failures in Asia and Latin America.
“If there is a request from Russia, we will be able to increase volumes, no problem. <…> This has happened before, when somewhere the coffee harvest was less than expected, prices rose. Everything is fine with us, coffee production continues. Ethiopian producers are ready to supply coffee to any country,— he declared.
Due to bad weather and a poor harvest this year, the global coffee market is facing its worst raw material shortage in a decade, with coffee futures at their highest since 2011 at around $2.5 a pound. In particular, by the end of the year, coffee production will decrease in Brazil and Vietnam— largest product suppliers in the world. Ethiopia is in fifth place with a share of 4.3%.
In March, against the background of sanctions pressure, the Swiss Nestle announced the termination of supplies of Nespresso coffee and goods to Russia, and a month later, the Italian Lavazza and the Finnish Paulig announced the termination of work in the country.
In 2020, the research company Euromonitor International estimated the Russian coffee market (in beans and ground) at 62.9 billion rubles. The top five brands were Jockey; (belongs to the Orimi group) with a share of almost 14%, Nespresso— 12%, Paulig— 12%, Lavazza and Nescafe Dolce Gusto each with a 5.5% share. No data for 2021.
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< strong>How much coffee do Russians drink
In 2019, coffee became the most popular hot drink among Russians, overtaking tea in consumption for the first time.
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According to Roschaikofe, Russians consume about 180 thousand tons of all types of coffee products per year: more than 100 thousand tons are roasted ground coffee, the rest— for instant and similar drinks.
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