Brazil’S Specialty Coffee Could Gross USD 96M Within A Year
(MENAFN- Brazil-Arab News Agency (ANBA)) São Paulo – Brazil's Specialty Coffee Association (BSCA) estimates that the industry could gross up to USD 96.3 million within the next 12 months as a result of two Promotion events of specialty coffee from Brazil held in January. From 21 to 23, a Brazilian delegation participated in the World of Coffee Dubai 2024, an industry exhibition in the United Arab Emirates via“Brazil. The Coffee Nation” project in partnership with the Brazilian Trade and investment Promotion Agency (ApexBrasil).
At the show (pictured), Brazilian entrepreneurs made 389 connections with clients and potential buyers that yielded USD 7.1 million in business, BSCA reported in a statement on Tuesday. For the following 12 months, sales deriving from this participation at the show are expected to result in USD 51 million.
One day before the show started, the Brazilian trade mission met with businesspeople and investors from the UAE, Saudi Arabia, Netherlands, India, and Russia, which resulted in USD 12.2 million worth of deals on the occasion and more USD 26 million expected to be grossed by January 2025. The participation in the trade mission and the show combined is expected to result in USD 96.3 million worth of deals over the following 12 months, including the contracts signed in the course of the events.
BSCA executive director Guilherme Estrela points out that there is a growing demand from Middle East countries for specialty coffee, which can be seen by the growing number of investments and coffeeshops that are being open in the countries of the region.“Besides the increase in local consumption, we've seen that Dubai has turned into a global hub, with local multinationals acquiring coffee to reexport,” Estrela was quoted as saying in the statement.
According to data from the Brazilian Coffee Exporters Council mentioned by BSCA, exports of all types of coffee from Brazil to the Middle East in 2023 stepped up 47% from a year earlier and accounted for 6.8% of Brazilian coffee exports. Sales to the Middle East reached last year 2.670 million bags from 1.821 million in 2022.
Translation by Guilherme Miranda
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