China's Luckin Coffee signs deal to buy over 3,000-t Ethiopian coffee beans

By：Xinhua Silk Road Update：2021-12-26

BEIJING, Dec. 22 (Xinhua) -- Chinese coffee chain Luckin Coffee has recently signed an agreement to purchase more than 3,000 metric tons (tonnes) of high-quality Ethiopian coffee beans in the first quarter of 2022, including 2,000 tonnes of YirgaCheffe beans and 80 tonnes of Hambella beans, according to Xinhua Finance, a financial information provider, in China on late Tuesday.

It is reported that in 2021, Luckin Coffee bought 11,500 tonnes coffee beans, of which more than 2,600 tonnes came from Ethiopia, far exceeding its purchase target in the country, said Zhou Weiming, senior vice president of Luckin Coffee.

It is estimated that the company is projected to buy more than 20,000 tonnes of coffee beans in 2022, and about 6,000 tonnes of beans may come from Ethiopia.