SHANGHAI, China – A Coffee Industry Board has been launched by the Chamber of International Commerce, Shanghai, to boost development of the city’s coffee industry and a coffee bean price index will be unveiled next year, Shanghai Daily reported. Shanghai is at the forefront of China’s boom in coffee consumption and related business.
The new board aims to cooperate with well-known coffee industry associations, enterprises and other organisations from both home and abroad in facilitating trade, cutting costs and helping high-quality coffee products to enter the Chinese market.
Official institutions abroad, international traders, coffee exporters and coffee growers from countries including Singapore, Ethiopia, Ghana, Brazil, Colombia, and Indonesia have expressed their willingness to join the platform.
As the core business platform of the Coffee Industry Board, Shanghai PHQ Coffee Trade Center will soon issue its coffee bean price index, likely in the first half of next year, said Zhou Minhao, chairman of the Chamber of International Commerce Shanghai.
“The board will become a professional institution to promote the coffee trade and exchange different coffee cultures,” said Lei Miao, chairman of the new board.
