Worldwide demand for coffee is increasing but the supply of coffee beans is struggling to keep up. Following is a transcript of the video.
Coffee supply is struggling to keep up with demand. The International Coffee Organization estimates 143 million bags of coffee were produced in 2014. And that 150 million bags were consumed.
Coffee farms tend to be small with very low returns. Some farmers might prefer to work or send their children to work in cities where they could earn more. And that’s not counting for climate change, which can also impact growth.
It takes 4-5 years for a coffee plant to mature before its beans can be harvested for roasting. Experts say the industry needs investment and a new strategy, but that might take years. In the meantime, the international coffee organization says consumption is growing annually by 2.5%.
This video was originally published on February 8, 2016.