Minasul, Brazil’s second largest coffee grower cooperative, launched Coffee Coin on Thursday (1). It’s the world’s first green coffee-backed cryptocurrency.
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Two Saudi traders had an online meeting with representatives of Brazil’s Ministry of Agriculture, Cecafé, and BSCA. The Brazilians invited the Arab buyers to visit the country’s farms next year.
The volume purchased by the bloc in the first four months of the year was 678,000 bags of Brazilian produce.
Brazil’s Coffee Exporters Council (Cecafé) is looking to replicate, in the Arab country, its ongoing marketing work in China. Plans including working with the federal government to join trade shows and B2B events in the second half of 2021.
Arab bloc imported 19.2% more coffee from Brazil in 2020 from the previous year. Highlights are North African countries. Algeria bought 310% more coffee from Brazil.
A company that sells ‘rare’ products from Brazil, Nativo has Santo Agostinho coffee in its portfolio. What sets it apart is that the beans are produced and roasted in Brazil and then sold online in the UAE.
Sales to those countries were up 12.9% year-to-date through November. Overall, 39.8 million bags of coffee got shipped from Brazil, the biggest amount on record, according to the Brazilian Coffee Exporters Council (Cecafé).
The Brazilian Coffee Week features local companies that import product from Brazil at the Dubai Coffee Museum. In addition to sampling the coffees, visitors can also try Brazilian foods like pão de queijo and tapioca.
Anorka of the UAE-based Hamwi conglomerate imports Brazilian coffee for processing and will work with the ABCC to search for new supplying farms. Executive at the company says that the product from Brazil is ‘unique.’
Year-to-date through October, Brazil exported 1.6 million bags of coffee to the Arab countries. The region accounted for 4.6% of Brazil’s coffee exports.
The Hamwi Co. conglomerate, which makes assorted coffee brands and coffee-based products, welcomed Brazil’s ambassador to the UAE, Fernando Igreja, on Sunday (8). The company sources 70% of its coffee from Brazil.
Cecafé reported that, over the last nine years, the country increased its exports by an average of 3.8% a year. In Brazil’s largest coffee cooperative, Cooxupé, the volume exported in 2020 has surpassed whole-year exports in 2019.
Last month saw 3.8 million bags shipped from Brazil, up 8.6% from September 2019. Sales to the Arab countries were up 6.9% year-to-date through September.
In the last ten years, the emirate Dubai’s foreign trade in coffee generated AED 3.5 billion (USD 1 billion). Brazil is a major supplier.
