500 billion cups of coffee

Was enjoying coffee and scones at a Woolies cafe recently. Well, actually I wasn’t enjoying the scones because they had run out. They’ve been making a habit of running out of scones recently. Strange.

But the amusing part of this story came from reading the coffee “Things you didn’t know” table thing. Point number 1: “500 billion cups of coffee are consumed every day”.

Which is fine. 6 billion people on the planet. Many of them in countries that don’t drink much coffeein the rural or poverty stricken areas (India and China I’m talking about you). Then we consider that not many youngsters below 12 drink much coffee. But even if we ignore all of that, they are still saying that on average every man, woman and child on the planet drinks around 80 cups of coffee a day. Every day.

Sometimes basic sanity checks work. Pity they aren’t applied more often. This goes all along the continuum from coffee consumption to investment guarantee costs.

Published by David Kirk

The opinions expressed on this site are those of the author and other commenters and are not necessarily those of his employer or any other organisation. David Kirk runs Milliman’s actuarial consulting practice in Africa. He is an actuary and is the creator of New Business Margin on Revenue. He specialises in risk and capital management, regulatory change and insurance strategy . He also has extensive experience in embedded value reporting, insurance-related IFRS and share option valuation.

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