Coffee is one of the world’s most popular beverages. According to the International Coffee Organization, consumption of coffee is increasing even in countries where tea is the beverage of choice.
In a report published by ICO in April 2023, it noted that China and Japan were among the countries in Asia and the Pacific that recorded increases in coffee consumption in 2022.
The jump in demand for coffee necessitated the purchase of beans from other countries, such as Vietnam, where the Philippines has been sourcing a chunk of its bean requirements. For years, farmers from Vietnam and other countries benefited from the steady rise in demand for coffee in the Philippines. And this went on for decades, even though coffee is one of the commodities that can be grown in the Philippines.
Unfortunately, the challenges posed by the climate crisis are now making it more difficult for the world’s traditional sources of coffee to keep up with rising demand. In a Bloomberg report published on May 23, Volcafe said it sees an “unprecedented” fourth year of deficits for robusta beans used in instant coffee as top producer Vietnam continues to face dry weather.
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