Port of Virginia lands big coffee import designation

Port of Virginia lands big coffee import designation

Credit: 13News

Port of Virginia lands big coffee import designation

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by 13News Now

WVEC.com

Posted on July 16, 2014 at 3:15 PM

NORFOLK-  The Port of Virginia will soon be a bigger player in the import of coffee to the United States.

Wednesday, the port announced that Norfolk's World Trade Center became a certified delivery point and exchange port for "ICE Futures U.S. Coffee" . ICE distributes large amounts of Arabica coffee.

This status becomes effective in 2016.  It means that not only can the port import coffee, but trade can take place here.

In the last five months, the port's coffee volumes have increased by 20%. Until recently, foreign coffee was only traded to New York, Miami, New Orleans, and Houston.

This exchange port status is very positive news for The Port of Virginia and the growth of the region’s industry surrounding this commodity,” said John F. Reinhart, CEO and executive director of the Virginia Port Authority.

In 2013, the Green Coffee Association (GCA) ranked Virginia as the fifth highest state for GCA stockholders. This determination gave Virginia a leg up in their application to distribute ICE Futures U.S. Coffee.

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