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Market News
World Coffee Conference for first time to boost India’s image in global markets.
Sep 26, 2023
The World Coffee Conference 2023, the four-day international coffee event being held here, will significantly strengthen India’s image in the global and domestic markets. It will propel export volumes and value. The government has permitted Coffee Board to use Rs 12.5 crore plus GST from its internal budget to host WCC, while half of the money will be spent by the industry players.
According to K G Jagadeesha, CEO and Secretary, Coffee Board, the 5th World Coffee Conference 2023, at Bangalore Palace Ground, is scheduled from September 25-28, 2023, where 2,000 delegates, leaders and decision-makers from over 80 countries, will discuss, debate, and collaborate on building a sustainable coffee industry, from bean to cup.
The event is a property of the London-based International Coffee Organisation (ICO), set up by United Nations to highlight the economic importance of coffee grown globally.
It is for the first time that India and Asia are hosting this prestigious global coffee event. The country got the approval from the International Coffee Organisation to play host to the mega coffee event. This is in fact acknowledging the country received as a major producer of finest coffees with a supportive and vibrant ecosystem.
'To this end, the Coffee Board has formed 16 coffee committees with each outfit coming with 25 different stakeholders. Although India produced the best quality coffees, these are yet to be perceived well and this edition of WCC was going to correct this mismatch,' he added.
From India stand point, robusta, is known for its highest quality making it the best and finest in the world. Arabica, is second-best in the world and gets a premium on par with Columbian beans which is regarded the finest in the world. Now Columbia has launched major consumer campaigns.
India coffee exports are currently estimated at over $1 billion. 'As an immediate booster effect of the World Coffee Conference, the Coffee Board is expecting an increase in exports volume and value growth of 10 to15% for our coffees in the international markets. This will eventually help India build a stand-alone coffee brand in global markets,' stated Dr Jagadeesha.
The WCC exposition is expected to give a fillip to India’s domestic coffee market. This we see would be in the area of attention to technology, investments, entrepreneurship, employment generation and creation of coffee varieties to catering to the connoisseurs and providing customers a broad variety of choice.
With 2,500 people, including coffee growers, roasters, curers, exporters, traders, cafe chain owners, retailers, have already registered to attend WCC. This will comprise over 300 foreign delegates from 60 countries. Some 40 global CEOs and 50 Indian CEOs are participating in the coffee conference. In addition to this, Coffee Board has already distributed 36,000 business delegates passes while another 15,000 similar passes will also be distributed/sold.
fnbnews.com
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