July 2023 Sees $44M Increase in Decaffeinated Coffee Import to United States
U.S. Decaffeinated Coffee Imports
In July 2023, decaffeinated coffee imports into the United States contracted to 6.7K tons, falling by -5.9% on the previous month’s figure. Overall, imports showed a pronounced setback. The growth pace was the most rapid in January 2023 when imports increased by 30% month-to-month.
In value terms, decaffeinated coffee imports expanded to $44M (IndexBox estimates) in July 2023. Over the period under review, imports saw a perceptible contraction. The growth pace was the most rapid in January 2023 with an increase of 21% against the previous month.
Imports by Country
Germany (1.4K tons), Brazil (1.3K tons) and Mexico (891 tons) were the main suppliers of decaffeinated coffee imports to the United States, together accounting for 54% of total imports. These countries were followed by Colombia, Vietnam, Honduras and Peru, which together accounted for a further 29%.
From July 2022 to July 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Honduras (with a CAGR of +2.0%), while imports for the other leaders experienced a decline.
In value terms, the largest decaffeinated coffee suppliers to the United States were Brazil ($8M), Germany ($6.9M) and Colombia ($5M), with a combined 45% share of total imports. Mexico, Honduras, Vietnam and Peru lagged somewhat behind, together comprising a further 23%.
In terms of the main suppliers, Honduras, with a CAGR of +1.2%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.
Imports by Type
In July 2023, unroasted decaffeinated coffee (6.1K tons) was the main type of decaffeinated coffee supplied to the United States, with a 92% share of total imports. Moreover, unroasted decaffeinated coffee exceeded the figures recorded for the second-largest type, roasted decaffeinated coffee (552 tons), more than tenfold.
From July 2022 to July 2023, the average monthly rate of growth in terms of the volume of import of unroasted decaffeinated coffee stood at -2.4%.
In value terms, unroasted decaffeinated coffee ($34M) constituted the largest type of decaffeinated coffee supplied to the United States, comprising 76% of total imports. The second position in the ranking was taken by roasted decaffeinated coffee ($11M), with a 24% share of total imports.
Import Prices by Country
In July 2023, the decaffeinated coffee price amounted to $6,642 per ton (CIF, US), rising by 8.3% against the previous month. In general, the import price saw a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In July 2023, the country with the highest price was Canada ($10,874 per ton), while the price for Vietnam ($3,742 per ton) was amongst the lowest.
From July 2022 to July 2023, the most notable rate of growth in terms of prices was attained by Brazil (+1.1%), while the prices for the other major suppliers experienced mixed trend patterns.