Japan, the globe's third-largest economy, is devoting efforts to widening cooperation with alternate coffee purveyors in Africa as part of an effort to encourage cooperation, according to the nation's trade organization.
Bloomberg reports Japan will make more purchases of the soft commodity from nations such as Uganda, Rwanda, Malawi and Cameroon, according to an official at the Japan External Trade Organization. Japan typically acquires its coffee from the African nations of Ethiopia, Kenya and Tanzania while its other main suppliers are Brazil, Costa Rica and Jamaica.
"As part of cooperation with African countries we want to venture into new markets for coffee," Toyokazu Fukuyama told the news service. "We have started and we want to build on the small level from these countries."
The International Coffee Organization reports Japan drinks 84,000 metric tons of coffee per year, which breaks down to about 3.75 pounds per capita.
Just before 1 p.m. on Thursday, coffee futures were up 2.52 percent, a 0.066 cent increase to $2.682 per pound.
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