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Yannis Apostolopoulos, Chief Executive Officer of the SCA, and Vanúsia Nogueira, Executive Director of the ICO, pose after signing a collaborative agreement to expand market promotion and consumption of high-quality coffee jointly.
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Yannis Apostolopoulos, Chief Executive Officer of the SCA, and Vanúsia Nogueira, Executive Director of the ICO, pose after signing a collaborative agreement to expand market promotion and consumption of high-quality coffee jointly.
The International Coffee Organization (ICO) and the Specialty Coffee Association (SCA) on Dec. 1 agreed to undertake a “momentous collaboration” to advance the global coffee industry.
In a Dec. 1 joint release, the organizations wrote that the agreement reflects the SCA’s dedication to making coffee a thriving, equitable, and sustainable activity for the entire value chain, in tandem with the ICO.
The agreement is well-timed. ICO predicted that global coffee demand will exceed supply, leading to a deficit driving higher prices. Shrinking ICE coffee inventories, now nearing historic lows, will further boost prices, as will the US Climate Prediction Center’s declaration of an ongoing El Nino weather event likely to bring drought to Vietnam’s coffee-growing regions in early 2024. The combination of events bodes well for financing and promoting coffee. November’s ICO market report showed the composite price increased 6.3% compared to October, averaging $1.61 per pound.
SCA Chief Executive Officer Yannis Apostolopoulos said, “Today’s signature marks a significant stride towards sustainability by creating new opportunities for knowledge transfer across the coffee sector. The SCA is committed to supporting institutions, organizations, and platforms in the coffee sector that are dedicated to building an equitable and sustainable industry, and the association believes that collaborative and diverse approaches, like this partnership with the ICO, will play a crucial role in making the rewards of the specialty coffee segment accessible worldwide.”
Executive Director Vanúsia Nogueira said, “Promoting comprehensive training is not just a necessity; it is one of the most important elements to fuel the future of the coffee sector. Education and skills development are the keys to unlocking the full potential of our industry, ensuring a robust foundation for sustainable growth, fostering innovation, and empowering every actor in the value chain, from bean to cup. The specialty coffee segment is synonymous with quality and excellence. I am confident that many stakeholders, especially in coffee-producing countries, will benefit from this important partnership with SCA that we celebrate today.”
In 2022, the ICO, representing the world’s major coffee producers and most consuming countries, updated its International Coffee Agreement, redirecting the organization from a government-driven history of regulating production quotas to a broader public-private alliance of wholesalers, retailers, and smallholders to promote the coffee industry. Nogueira has championed a more united front to address the industry’s significant challenges.