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The number of branded coffee shops in China jumped 58% in the past twelve months, reaching 49,691 outlets, according to a December report by World Coffee Portal.
Date/Time Thumbnail Dimensions User Comment; current: 14:31, 3 August 2024: 5,498 × 1,016 (141 KB): Chiswick Chap: rm embedded caption, we already get a caption below the image
Coffee prices 1973–2022. According to the Composite Index of the London-based coffee export country group International Coffee Organization the monthly coffee price averages in international trade had been well above 1000 US cent/lb during the 1920s and 1980s, but then declined during the late 1990s reaching a minimum in September 2001 of just 417 US cent per lb and stayed low until 2004.
The Consumer Price Index report released Wednesday showed that the prices consumers paid for roasted coffee rose 2.5% in January over the previous year, while instant coffee jumped 7.1%.
A French missionary brought coffee to Yunnan province in the late 19th century, marking the crop's introduction to China. [1] However, the modern Chinese coffee cultivation industry began in 1988 when the Chinese government, The World Bank and the United Nations Development Programme jointly initiated a program to introduce coffee growing in the region. [1]
The US coffee chain is targeting 9,000 stores in China by 2025, World Coffee Portal said. For more CNN news and newsletters create an account at CNN.com Related articles
Earlier this week, the Wall Street Journal reported that raw Arabica coffee prices soared to a record high of nearly $3.44 per pound, which beat the prior record of $3.35 from 1977.
Since 2020, Luckin Coffee has been China's largest coffee chain by store count. From the early 1990s to the late 2010s, Starbucks was the largest coffeehouse in China. [8] [9] However, since 2017, competition over the Chinese coffee market has intensified between Starbucks and Luckin Coffee.