Strike grinds coffee shipments to a halt at East and Gulf Coast ports [FOX Business Network]
Westrock Coffee Company (WEST)
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Source: FOX Business Network
The ongoing strike by unionized dockworkers at East and Gulf Coast ports has ground to a halt the unloading of imported coffee shipments, setting up a supply squeeze for coffee drinkers in the U.S. – the world's largest coffee-drinking nation. Americans purchased about 164.2 billion six-ounce cups of coffee from Oct. 2022 to Sept. 2023, which equates to about 3.26 billion pounds of coffee, according to U.S. Department of Agriculture (USDA) data used in an analysis by USAFacts Most of that is imported, as the U.S. produced just 11.5 million pounds of coffee in Hawaii during the 2022-23 season, meaning the U.S. consumed about 282 times as much coffee as it produced, per the report. A USDA report on the coffee market for the 2023-24 season found the countries that export the most coffee to the U.S. are Brazil (27%) and Colombia (19%). Due to their proximity to those countries, East and Gulf Coast ports are key destinations for America's coffee imports. "The ports impacted by thi
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Earnings
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