Russia enters ICO as coffee consumption increases

Russia became the seventh importing member of the International Coffee Organization (ICO), joining the European Union (EU), United States, Norway, Switzerland, Tunisia and Turkey under the International Coffee Agreement, formalized in 2007.
ICO was created by the United Nations with the first International Coffee Agreement in 1962. Although the group no longer supervises export quotas designed to stabilize the market, it is nevertheless an important source for current and historical market data, and a leading organization for intergovernmental cooperation, including the Consultative Forum on Coffee Sector Finance.
With the entry of Russia, ICO member governments now account for 95% of world coffee production and 78% of world consumption.
"Russia has been an official observer in meetings of ICO for several years and I personally I became involved in negotiations with senior officials regarding their membership," said the Executive Director of the ICO, Robério Oliveira Silva. "As one of the largest consumers of coffee in the world, we believe that Russia is well positioned to work with ICO members in the coffee sector promotion worldwide and to deal with the challenges we face."
According to the ICO, Russia consumed 4 million bags in 2014, with an average rate of per capita consumption of 1.7 kg. Since 2000, coffee consumption in the country has doubled, while increased 3% annually over the past four years.
Source: Café Point