Chinese coffee chain Luckin Coffee will sign a deal to buy US$2.5 billion in Brazilian coffee, with the announcement expected during the G20 meeting in Brazil in November, the president of the Brazilian Trade and Investment Promotion Agency (ApexBrasil), Jorge Viana, said on September 17.

In June of this year, Luckin signed a memorandum of understanding (MoU) with the Brazilian Trade and Investment Promotion Agency (ApexBrasil) to purchase 120,000 tons of coffee from Brazil over the next two years, in a deal valued at approximately US$500 million.

Luckin Coffee also has long-term plans to increase its presence in Brazil, with the opening of offices and support centers for local producers, aiming to boost the relationship between the two countries in the coffee sector.

(Fonte: Terra, a 17 de Setembro)