Coffee is one of the world’s most widely traded commodities. And going by official figures, India too seems to have gathered a fair amount of expertise in its trade! What’s more? Despite the ongoing slump in overall exports, the country managed to ship out 63% of its production last year and a significant part of that to Italy, the Mecca of coffee! The Dollar Business explores the ways and means to catapult India into becoming a force to reckon with in global coffee trade.
A hot cup of coffee is what many people in the world begin the day with. And not without reason, the caffeine content in the beverage stimulates one’s mind and prepares one to face the day with what the french call joie de vivre [a delight in being alive]. Coffee is an immensely popular beverage across the globe, and has a fascinating history. According to the National Library of France, the earliest documented reference of coffee can be traced to 875 AD! It is believed that in the olden days, coffee was grown exclusively in Ethiopia from where it gradually made its way to the Arabian Peninsula. Thereafter, coffee farming continued to spread far and wide, and today it is farmed in more than 50 countries across Central and South America, Africa and Asia. Variety is the essence as far as taste is concerned – coffee can be heavy or full-bodied, mild, bitter or sweet.
CHANGING LIVES
Coffee is big business, and we are not just talking about the ubiquitous cafes. As per estimates, over 100 million people are currently engaged in coffee production and processing. Interestingly, US is home to the world’s largest number of coffee consumers, yet produces coffee only in small quantities. In fact, most of the coffee production takes place in the middle of the world – along the equator and in the subtropical areas. The warm, humid climate in this belt is perfect for coffee plantation. In other words,the global trade flow of one of the most “valuable” commodities in the world is currently directed from the less privileged (or not so rich) countries to the more privileged (or rich) ones. The revenues generated thereof are contributing to alleviate poverty and improve living standards in these exporting countries, thus helping reduce the global economic inequality – a noble cause served by a commodity, you would agree!
THE INDIA STORY
This story is from the November 2016 edition of The Dollar Business.
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This story is from the November 2016 edition of The Dollar Business.
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