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HRH Prince Khalid Bin Bandar Bin Sultan Bin Abdulaziz Al Saud (left) and the ICO’s Vanúsia Nogueira (right) | Photo credit: ICO
Saudi Arabia has signed the International Coffee Agreement (ICA) 2022 at the International Coffee Organization (ICO) headquarters in London.
Established in 1962 to regulate fluctuating coffee prices globally and maintain the quotas of coffee producing countries, the ICA has been ratified seven times – the most recent of which came in June 2022.
The ICO, whose members represent 98% of all coffee producing nations and 67% of coffee consumption markets, said the ‘landmark’ update centred upon establishing a united front in tackling its sustainable coffee initiatives – enabling private sector participation for the first time.
In a press release, the ICO paid tribute to Saudi Arabia’s history of coffee cultivation and recognised rising consumer demand in the country for both modern and traditional coffee experiences.
“We are honoured to welcome Saudi Arabia as a signatory to the ICA 2022 and hope that this will bring a unique new flavour to our global community. Together in the spirit of international cooperation, we celebrate the diversity of coffee traditions and jointly undertake to safeguard, promote, and sustain the sector,” said Vanúsia Nogueira, Executive Director, ICO.
“We see the ICO, and this updated agreement, as key to achieving our ambitions for the coffee industry locally and globally, and we look forward to working with colleagues at the ICO to secure a positive and thriving future for coffee in the years and decades to come,” added HRH Prince Khalid Bin Bandar Bin Sultan Bin Abdulaziz Al Saud, Ambassador of Saudi Arabia to the UK.
Read related content: Inside Saudi Arabia’s coffee shop boom
Saudi Arabia’s coffee industry is rapidly developing, both in terms of production and consumption.
The Kingdom’s Public Investment Fund (PIF) launched the Saudi Coffee Company in May 2022 and is investing $320m to increase Saudi coffee production from 300 to 2,500 tons annually by 2028, as well as develop the country’s export capabilities to global markets.
In February 2024 the Saudi Coffee Company signed new deals to supply 650-store Barn’s with locally grown specialty coffee and Jeddah-based BON Cafe with filter coffee for hot and cold beverages sold across its 50 drive-thru sites.
Saudi Arabia is by far the largest branded coffee shop market in the Middle East and is forecast to exceed 5,350 outlets by 2027.
