Market for Organic Coffee in North America Grows
It’s not that surprisingly really. The economy is hurting and people are losing their jobs, so late nights drinking coffee and stressing out seem obvious.
Maybe that’s why the organic coffee sector in the U.S. and Canada grew 12% last year. In 2008, North America imported 89 million pounds of organic coffee, tallying $1.3 billion.
Industry experts admit organic coffee costs a pretty penny. So how did pricey coffee thrive in an economic depression?
It seems food safety is weighing heavy on people’s minds and most people believe organics are safer, said one research consultant.
But 2009’s forecast for organic coffee is more schizophrenic. All last year industry analysts expected the market to tank, but since it didn’t. This year’s growth prediction of 4.5% to 15% leaves plenty of wiggle room.
The news about organics and the economy is nutty. Just yesterday it seemed organic was doomed by the depression, but this report seems encouraging, weird.
Via Reuters.
