Brazil reaches agreement with China to boost coffee exports
Jun, 07, 2024 Posted by Sylvia SchandertWeek 202423
During his visit to the Asian country, Alckmin signed memorandums of understanding to promote Brazilian coffee with China’s largest coffee shop chain, Luckin Coffee, which boasts over 16,000 stores and stands as the primary importer of Brazilian coffee in China.
The signed agreement entails the purchase of roughly 120,000 tons of Brazilian coffee by the chain, totaling around $500 million. To put this in perspective, Brazilian coffee exports for the entire year of 2023 amounted to $280 million.
The following chart shows the volume of coffee bean shipments from Brazil to China between January 2022 and April 2024. The data is from DataLiner.
Coffee Bean Exports to China | Jan 2022 – Apr 2024 | WTMT
Source: DataLiner (click here to request a demo)
In addition to the deal with Luckin Coffee, Brazil also signed an agreement with China to establish a trade and investment hub in Shanghai’s Yangpu district, which is known for housing technology giants like TikTok. A total of 12 memorandums were signed to boost Brazil’s presence in the Asian market, facilitated by the Brazilian Export Promotion Agency (ApexBrasil).
Source: Agência Brasil
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