Facebook Bankable Twitter Bankable LinkedIn Bankable
Instagram Bankable Youtube Bankable WhatsApp Bankable
Bankable
Bankable

MOST READ

African Economies

Coffee: Democratic Republic of Congo Poised to Benefit from Global Surge in Robusta Prices

Coffee: Democratic Republic of Congo Poised to Benefit from Global Surge in Robusta Prices

In the Democratic Republic of Congo (DRC), robusta coffee producers are poised to benefit from rising global prices. After a 58% increase in 2023, prices have surged another 63% in 2024, reaching a record $4,667 per ton in July. This trend is driven by strong demand from coffee roasters and declining exports from Vietnam, the world's largest robusta producer, which is facing severe drought conditions.

Vietnam's coffee sector has been significantly impacted, with forecasts indicating a 20% drop in exports for the 2023/24 season due to the worst drought in over a decade. This situation has created a supply gap that has contributed to the increase in robusta prices on the global market.

The price hike presents an opportunity for the DRC's coffee industry to attract investment in robusta plantations. This variety is more resilient to dry conditions and accounts for over 70% of the country's total coffee production. In 2022, DRC produced 23,130 tons of robusta coffee, making it the fifth-largest supplier in Africa (after Uganda, Côte d'Ivoire, Tanzania, and Cameroon).

Additionally, the global coffee market is expected to see a 2.2% increase in consumption during the 2023/2024 season, further supporting robusta coffee prices. 

According to the United Nations Conference on Trade and Development (UNCTAD), the DRC cultivates coffee on approximately 200,000 hectares.

Espoir Olodo

 

Subscribe to our newsletter (free)

Receive daily news and analyses from the Bankable editorial team.

 
 
drc-reverend-sister-rita-mboshu-kongo-recognized-for-work-empowering-congolese-girls-and-women
The Reverend Sister Rita Mboshu-Kongo, from the Democratic Republic of Congo (DRC) and a member of the Congregation of the Daughters of Mary Coredemptrix,...
drc-authorities-ramp-up-efforts-to-boost-agricultural-sector-including-an-upcoming-major-project
The Congolese Minister of Rural Development, Muhindo Nzangi Butondo, was in Gbadolite, North Ubangi, on October 28, 2024. During his visit, he discussed a...
drc-ministry-of-water-accelerates-digitalization-efforts-with-smart-meter-project
Goma, the capital of North Kivu, will be one of the first cities in the DR Congo (DRC)to receive smart meters. The initiative is part of a broader...
investment-world-bank-representative-promotes-drc-at-recent-rebranding-africa-africa-forum
During the recent Rebranding Africa Forum in Brussels, Albert Zeufack, the World Bank representative in the Democratic Republic of Congo (DRC),...

African Economies

MOST READ

Please publish modules in offcanvas position.