UN Proclaims Oct 1 as International Coffee Day: Global Industry Valued at US$ 200 Bn 📈

The UN General Assembly has officially recognized the socio-economic impact of the coffee sector, highlighting its role in poverty eradication and sustainable development. • Global Market Scale: The global coffee industry generates over US$ 200 Bn in annual revenue. In 2024, production exceeded 11 million tons, with 8 million tons traded internationally. • Economic Value: World trade in coffee beans reached approximately US$ 34 Bn in 2024, while the total value of global production was estimated at US$ 25 Bn. • Livelihoods & Consumption: The sector supports 25 million farmers globally. Per capita consumption has grown by 1.2% annually over the last decade. • Trade Dynamics: Brazil and Viet Nam remain the top exporters, with the EU and USA as leading importers. • Regional Importance: Coffee is a vital foreign exchange earner for low-income nations; in 2024, it accounted for 27.9% of exports in Ethiopia and 20.1% in Uganda. For Sri Lanka, the global recognition of coffee underscores the potential for local agricultural diversification into high-value specialty crops to bolster export revenues and rural employment. ☕