ICO sees global coffee demand up

The International Coffee Organisation (ICO) sees global coffee demand exceeding 125 million 60-kg bags in 2008, up from around 123 million in 2007. "For 2007 world consumption has been estimated at around 123 million bags," according to the latest monthly letter from the ICO Executive Director Nestor Osorio on Thursday.
"The current growth in consumption, particularly domestic consumption in exporting countries like Brazil and India, makes it likely that world consumption could exceed 125 million bags in 2008." Despite a downward correction in arabica prices (in March), the positive trend in world consumption has helped to maintain firm price trends, Osorio said.
"It should be recognised that a number of producing countries are currently implementing internal programmes that will lead to increased domestic consumption," he added.