Key Market Indicators
Venezuelan coffee consumption is projected to drop significantly, reaching approximately 32,000 metric tons by 2028. This is a sharp decline from the 44,000 metric tons consumed in 2023, marking an average yearly decrease of 5%. Since 2019, the nation's coffee demand has fallen by an average of 4.7% annually. In 2023, Venezuela ranked 38th globally in coffee consumption, trailing behind Norway, which consumed 44,000 metric tons. Leading the global rankings were the United States, Germany, and Japan, occupying the second, third, and fourth positions, respectively. On the production front, Venezuela's coffee output is also set to experience a steep decline. By 2028, production is expected to plummet to around 105,000 bags of 60 kg each, down from 310,000 bags in 2023. This translates to an average annual decrease of 17%. Since 1995, Venezuelan coffee supply has been dwindling at an average rate of 10% per year. In 2023, the country ranked 26th in coffee production, overtaken by the Democratic Republic of the Congo with 310,000 bags. Vietnam, Colombia, and Indonesia held the second, third, and fourth spots in global coffee production, respectively.
