If you’ve spent time in the coffee industry, you’ve probably heard the claim:
“Coffee is the second most traded commodity in the world after oil.”
It’s repeated in books, articles, coffee training sessions and even by major companies. The statistic sounds impressive and reinforces the idea that coffee is one of the most important global products.
But there’s just one problem.
It isn’t true.
In this article from Caffeine Academy, we’re breaking down where the myth came from, what the real numbers show, and why coffee is still incredibly important even if it isn’t the second most traded commodity.
Where Did the Myth Come From?
The claim that coffee is the second most traded commodity after oil has been circulating for decades.
Economists and coffee historians suggest the statement may have been closer to reality in the 1970s, when coffee exports were extremely valuable relative to other agricultural products.
However, global markets have changed dramatically since then.
Grains, metals and other commodities have grown far larger in global trade value.
Yet the statement continues to be repeated across the internet, in presentations and even in government hearings.
What the Data Actually Shows
When we compare global export markets, coffee is not even close to being the second most traded commodity.
According to data compiled using the International Coffee Organization, World Bank and UN trade statistics, the estimated value of the global coffee export market is around:
$19–30 billion per year
When compared to other commodities, this places coffee well behind many others.
For example:
| Commodity | Approximate Export Value |
|---|---|
| Oil | ~$788 billion |
| Soybeans | ~$100 billion |
| Wheat | ~$60 billion |
| Aluminium | ~$106 billion |
| Copper | ~$104 billion |
| Iron ore | ~$67 billion |
| Coffee | ~$19–30 billion |
Even among agricultural commodities, coffee is not the second largest.
Both soybeans and wheat exceed coffee significantly in global trade value.
Coffee Isn’t Even the Second Most Traded Agricultural Product
Data from the MIT Observatory of Economic Complexity (OEC) shows coffee ranks far lower than most people expect.
According to their analysis:
• Coffee is approximately the 98th most traded product globally
• Green coffee ranks around 114th
• Roasted coffee ranks around 301st
That might sound surprising.
But it highlights how massive global commodity markets really are.
So Why Does the Myth Persist?
Coffee myths spread easily because they are simple, memorable and emotionally appealing.
As coffee historian Mark Pendergrast, author of Uncommon Grounds, later admitted after repeating the claim himself:
“I was wrong, and so is everyone else who keeps repeating this myth.”
Myths often survive because they tell a story we want to believe.
The idea that coffee is second only to oil makes the industry feel larger, more powerful and more important.
But the truth is actually more interesting.
Coffee’s Real Global Impact
Even if coffee isn’t the second most traded commodity, it is still one of the most socially important agricultural industries in the world.
Coffee supports the livelihoods of around 25 million farmers globally.
Millions more people work across the value chain:
• farmers
• exporters
• importers
• roasters
• baristas
• café owners
Coffee connects producing countries across Latin America, Africa and Asia with consumers all over the world.
Few products create such a complex global ecosystem of agriculture, trade, culture and hospitality.
Why Accuracy Matters in Coffee Education
Repeating inaccurate statistics can actually harm the coffee industry.
If we want people to understand the real challenges facing coffee producers — such as low prices, climate pressure and farming sustainability — we need to rely on credible data and transparent education.
That’s exactly why we created Caffeine Academy.
Our goal is to provide coffee professionals and enthusiasts with clear, honest and practical knowledge about coffee.
Sometimes that means celebrating coffee.
And sometimes it means debunking the myths we’ve all heard.
Learn More with Caffeine Academy
Caffeine Academy is our educational platform designed to help people understand:
• coffee sourcing
• roasting
• brewing
• equipment
• the economics of coffee
• and the realities behind the industry
Because the better we understand coffee, the better we can support the people behind it.
You can read more about the place of myths in the coffee industry.
