Coffee trading platform launched in Shanghai

SHANGHAI, Dec. 9 (Xinhua) -- A coffee trading platform was launched on Thursday in Shanghai, a city at the forefront of China's boom in coffee consumption and related business.

The platform is expected to become an integrated service provider for the development of China's coffee industry, with a wide variety of products, multiple transaction patterns and third-party supporting services.

It is expected to achieve a transaction volume of 3.5 billion yuan (about 549 million U.S. dollars) in 2022, with 8,000 domestic and foreign dealers by 2025 pushing transactions above 15 billion yuan.

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.

According to Tao Jian, head of the platform, Shanghai has the widest coverage of coffee brands, the most complete coffee industrial chain and the largest trading volume of coffee in China, so it is imperative that an international coffee trading platform be built in the city.