ST. PETERSBURG, June 9 Brazil is working to increase coffee supplies to Russia and hopes that they will grow by 20 percent, said Brazilian Ambassador Rodrigo de Lima Baena Soares in a conversation with on the sidelines of SPIEF.
«There is a trend towards growth in coffee exports to Russia. We hope that it will grow by at least 20 percent,» he said.
At the same time, according to the ambassador, the price of coffee depends on many factors, including climate change, which are difficult to predict.
At the end of the last agricultural year, the International Coffee Organization noted that Arabica production increased by 1.8 percent, to 94 million bags, while Robusta, on the contrary, decreased by two percent, to 74.2 million bags. At the same time, this year it is expected that global coffee consumption will grow by 2.2 percent to 177 million bags, and non-producing countries will make the largest contribution to this.
According to BCS World of Investments stock market expert Lyudmila Rokotyanskaya, world coffee prices are rising due to extreme weather: in Brazil, a key producer of Arabica, there are heavy rains, and in Vietnam, which produces the Robusta variety, there is drought.
The St. Petersburg International Economic Forum took place from June 5 to 8. — information partner of the event.
«Space of dialogue and development.» How SPIEF ends
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