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  1. #1
    Senior Member
    Join Date
    Apr 2014
    Location
    Quetzaltenango, Guatemala
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    2,489

    BIG MYTH : Coffee is 2nd biggest commodity in the world... NOT!

    Let me tell you right off the bat, "Coffee IS NOT 2nd most traded commodity in the world" NOT EVEN CLOSE!

    it is very easy to check, so if you doubt my posting, please check it out for yourself and post your comments here.

    Oil is #1. No one can argue that. In 2015, the oil export market reached at $788 billion. The aluminum was at $105 B. Copper at $104 B. Iron at $67 Billion. Even, according to US agriculture dept, wheat was at $29 billion and soybeans at $57 billion (soybean is so high due to the feeds for domesticated / farm factory grown Cows & Pigs...etc).

    By the way, guys, you have to look at the difference between "commodity" and "product".
    A commodity is a raw product. (ex. Green or roasted coffee is both a commodity & a product) HOWEVER, the bottle of cold brew that you bought from Vons or from Starbucks? it is just a product.

    AND COFFEE IS NEITHER THE WORLD'S 2nd MOST TRADED PRODUCT NOR COMMODITY.

    According to World Bank's Development Prospects Group & ICE (Int'l Coffee Organization), as of 2015, the coffee export market was at about $19 billion. (some says that it was close to $30 billion, but even that it is way behind soybeans...and many others)

    So, as of 2015 figure, coffee is about 95th most traded products. (probably it changed again in 2017 and keep changing...). Green coffee beans comes in at 110th & Roasted at 300st. According to the experts, coffee is not even the 2nd most traded agricultural product because wheat has at 70 and soybean at 54. So coffee is way behind. (if we accept the coffee at $30 billion, still it is somewhere between 54 & 70)

    I am sure that few of us are surprised, so let's stop from keep repeating this myth!!!

    PS: BYW, I got these info from OEC (MIT Observatory of Economic Complexity) 2015 report.
    Last edited by ensoluna; 11-01-2017 at 01:29 PM.
    Ensoluna S.A. Guatemala
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  2. #2
    Senior Member
    Join Date
    Dec 2011
    Location
    Thomaston, CT
    Posts
    386
    We stand corrected!

  3. #3
    Junior Member
    Join Date
    Nov 2017
    Location
    NYC
    Posts
    3
    Funny but true thread. I am new to the coffee industry and with my constant intake of coffee knowledge, along with fresh coffee of course I stumbled upon the facts behind the myth. I find it amazing how this myth has lived on for so long and continues, even in this data rich world we live in.

    If any of us on this forum have our way we will strive to make it #2 or even #1!

 

 

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