Is coffee the most traded commodity in the world after oil?

Is coffee the most traded commodity in the world after oil?

You can check the answer of the people under the question at Quora “coffee second most traded commodity

0 thoughts on “Is coffee the most traded commodity in the world after oil?”

  1. No. Among agricultural commodities, the trading volume of futures contracts for corn is higher, while gold is also higher than coffee in trading volume. Coffee also differs from other ‘soft’ commodities in that buyers often require knowledge not only of the species (c. canephora for Robusta, c. arabica for Arabian), but also the growing conditions (shade-grown), provenance (region), and sourcing details (Fair Trade, etc.).
    Futures & Commodities

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  2. I can’t answer your question. I don’t think anybody can because the premise of the question is flawed.
    World trade in coffee was USD30 billion in 2019. It was USD243 billion for natural gas, USD128 billion for coal, USD124 billion for iron ore, USD60 billion for copper ore, USD55 billion for soybean, USD54 billion for cotton, USD44 billion for wheat, USD41 billion for sugars and molasses, USD36 billion for maize (a.k.a. corn) and USD33 billion for pork.

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  3. No! Coffee is neither the world’s second-most traded product nor the world’s second-most traded commodity.
    According to MIT’s Observatory of Economic Complexity (OEC), coffee is the world’s 98th most-traded product in commodities. Although many in the coffee industry have debunked it, the myth still remains. The problem with this myth is that it devalues the coffee industry. The good news is however that coffee is still a huge commodity and as we fellow coffee lovers all know, we can’t live without it.

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