Brazil now producing a third of world's coffee
It's official...Brazil produced a third of the world's coffee last year. Well technically, they are producing 32% of it, but that's up from 29% in 2008. This is the result of an increase in production of almost 10% over what was cultivated in 2008.How many bags of coffee is that? 30.3 MILLION 60-kg sacks exported, contributing over $4 billion to the country's gross domestic product. The key message from the International Council of Coffee Exporters (CECAFE) is that a global recession in 2009 did not impact overall coffee consumption in key markets, including the US, Germany, and Japan.I think it's an interesting year to reflect on, particularly in the US market where retail leader Starbucks shut down 800 stores (not to mention 60 stores in Australia and 40 more spread around the world). If Brazil's exporters say there isn't a recession in the coffee world while Starbucks closes 900 of its company-owned stores in the face of a retail recession, I take it that everybody is still drinking just as much coffee, just not as much from Starbucks. Recessions can change the spending patterns of consumers. Of course, that observation could be shortsighted, as shares of Starbucks sold on the NASDAQ felt the pain in 2008, with 2009 being an extremely positive year for Starbucks investors.Learn more about Brazilian Coffee.As an aside, here are your also-rans:- 2nd place: Vietnam, 18% global market share- 3rd place: Colombia, 8% global market shareCoffee is the world's second largest-traded commodity. The first is oil. I guess we have a thing for black liquid.