Beijing, June 5, 2024 — Luckin Coffee, a leading Chinese coffeehouse chain, has entered into a landmark agreement with the Brazilian government to purchase coffee worth approximately $500 million, the Ministry of Trade and Industry of Brazil announced on Wednesday.
The memorandum of understanding stipulates that Luckin Coffee will buy around 120,000 metric tons of coffee from Brazilian producers, underscoring the growing trade ties between the two nations.
Luckin Coffee, which operates over 16,000 outlets across China, continues to expand its footprint in the competitive coffee market.
This agreement comes on the heels of a significant increase in China’s coffee imports from Brazil. Last year, Chinese imports of Brazilian coffee more than tripled, elevating China to the position of Brazil’s sixth-largest coffee buyer, a remarkable leap from the 20th position just a year earlier.
As the world’s top coffee producer and exporter, Brazil is well-positioned to capitalize on the burgeoning coffee consumption trend in China, reinforcing its status as a key player in the global coffee market.