By Marvin G Perez
U.S. sales rose 80% in 12 months to February, StudyLogic says
Brewing method can use twice much ground beans as hot coffee
The need to soak up extra supply is especially important with the price of arabica coffee futures in New York dropping as much as 21 percent in the past year and the pace of demand growth in the U.S. forecast to slow.
In the 12 months ended in February, sales of cold brew in the U.S. were up about 80 percent over the prior year. Sales of hot coffee fell 3 percent over the same period.
Americans drank 105 billion cups in the 12 months ended in May,
Total U.S. coffee consumption is projected to be a record in 2017-18, up 1.5 percent. That gain lags a 4.4 percent rise a year earlier
That’s helped breathe some life into the market for coffee beans, along with signs of tightening inventories in Brazil and Vietnam, the world’s top growers, and crop issues in Colombia.
Fourth straight production shortfall, according to Rabobank, which estimates the gap could be as much as 6.8 million bags in 2017-18 crop year starting Oct. 1.
Source: Bloomberg
https://www.bloomberg.com/news/articles ... mbergdaily