Colombia: Coffee Annual
In marketing year (MY) 2023/24, Colombian coffee production is forecast to increase by 3 percent to 11.6 million bags of green bean equivalent (GBE) coffee driven by improving weather conditions, which have hurt production over the past two years. Colombia’s economy is projected to grow at a slower pace in 2023 and 2024, restricting a more substantial growth in coffee consumption which has been supported by coffee imports, largely from Brazil and Peru. In MY 2023/24, coffee consumption is forecast to remain the same as the previous year at 2.2 million GBE bags. In MY 2023/24, coffee exports are forecast at 12.1 million GBE bags, a 2 percent increase, due to recovering production and the prioritization of exports by producers. The United States remains the largest importer of Colombian coffee with over 40 percent of the market share.