The global coffee export earnings rose by almost 46 per cent to a record $24.3 billion last year on the back of rising shipment volume, which grew by about 8 per cent to 104.2 million bags in the same period.
Global trade stood at $16.7 billion in 2010, whereas the export volumes were 96.9 million bags (of 60 kg each), International Coffee Organisation (ICO) said in its latest report.
“The value of total exports during calendar year 2011 is estimated at a record level of $24.3 billion for an export volume of 104.2 million bags compared with $ 16.7 billion for a volume of 96.9 million bags in 2010,” it added.
Market analysts have attributed the growth in coffee trade to the rise in consumption of the brew.
Global coffee consumption rose by 1.7 per cent to an estimated 137.9 million bags in 2011 from 135.6 million bags in the 2010 calendar year, ICO data said.
Global demand continues to show signs of buoyancy on the back of increased domestic consumption both in exporting countries and in emerging markets, analysts added.
According to ICO, world consumption increased by 53.5 per cent from 89.8 million bags in calendar year 1990 to almost 138 million bags in 2011. The most significant changes were recorded in the case of emerging markets and exporting countries.
In emerging markets, consumption rose from 11.3 million bags in 1990 to around 24.7 million bags in 2011. Domestic consumption in exporting countries rose to 42.4 million bags in 2011 compared with 19.4 million bags in 1990, it noted.
Coffee is one of the most traded commodities globally after petrol.
According to the government-run Coffee Board of India, the total global trade is valued at around $120 billion annually.