Global Coffee Consumption Second to Crude Oil

Published on 20th June 2012

G8 fails to address African farmersā€™ skewed trade trap

Hoe-in-hand on theĀ frontline to eradicate weeds, farmers in Africa may not be aware that coffee is the second highest most traded commodity after crude oil, at 138 million bags with a global trade value of USD 120 billion (Smartinvestor.business-standard.com; accessed June 4, 2012). Corporations that extract crude oil reap maximum benefits compared to their African farmer counterpart who remains largely disconnected to the actual value of their output.

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