Munn hunting more Jamaican coffee beans for robust US market
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Edgar Munn, principal of Blue Mountain Coffee Inc (BMCI), plans to visit Jamaica in October 2024 to secure more coffee beans for the US market, which is the second-largest for Jamaican coffee. Munn's company sells about half of Jamaica's coffee exports to the US, which amounted to US$4.6 million in 2023. Jamaica's total coffee exports were valued at US$27 million, with Japan being the largest market at over US$15 million. BMCI imports 120 tonnes of Jamaican coffee annually, purchasing green beans at US$15 per pound and selling the finished product for US$40 to $80 per pound. Munn's family has a long history in the coffee industry, having founded Mavis Bank Coffee Factory. Sales for BMCI have doubled since 2019, attributed to marketing efforts by Munn's business partner, Chuck Holmgreen. The global coffee industry faced challenges, with commodity coffee exports declining to US$42 billion in 2023, while Jamaican exports rose 18% from 2022. However, producers warn of potential crop shrinkage in 2024 due to adverse weather conditions.
#Coffee #Jamaica #UsMarket #Exports #Business #Munn #BlueMountainCoffee #Agriculture #Trade #Economy
https://jamaica-gleaner.com/article/business/20240915/munn-hunting-more-jamaican-coffee-beans-robust-us-market
Jamaica Gleaner /
npub1lz…cs7as
2024-09-15 05:47:41
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npub1lzysphhkul97ufhwwuqswrtpesgxtdamzcl6vcuvds7lcags72jsmcs7asPublished at
2024-09-15 05:47:41Event JSON
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"content": "Munn hunting more Jamaican coffee beans for robust US market\n==========\n\nEdgar Munn, principal of Blue Mountain Coffee Inc (BMCI), plans to visit Jamaica in October 2024 to secure more coffee beans for the US market, which is the second-largest for Jamaican coffee. Munn's company sells about half of Jamaica's coffee exports to the US, which amounted to US$4.6 million in 2023. Jamaica's total coffee exports were valued at US$27 million, with Japan being the largest market at over US$15 million. BMCI imports 120 tonnes of Jamaican coffee annually, purchasing green beans at US$15 per pound and selling the finished product for US$40 to $80 per pound. Munn's family has a long history in the coffee industry, having founded Mavis Bank Coffee Factory. Sales for BMCI have doubled since 2019, attributed to marketing efforts by Munn's business partner, Chuck Holmgreen. The global coffee industry faced challenges, with commodity coffee exports declining to US$42 billion in 2023, while Jamaican exports rose 18% from 2022. However, producers warn of potential crop shrinkage in 2024 due to adverse weather conditions.\n\n#Coffee #Jamaica #UsMarket #Exports #Business #Munn #BlueMountainCoffee #Agriculture #Trade #Economy\n\nhttps://jamaica-gleaner.com/article/business/20240915/munn-hunting-more-jamaican-coffee-beans-robust-us-market",
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