Friday, May 27, 2022

Coffee price lowest since 2005, industry needs help: Colombia Coffee Growers

coffee beans

Colombia’s coffee growers federation on Monday called for more government assistance, as a  perfect storm of high production and low global prices continue to hurt the industry in spite of subsidies granted earlier this year.

Federation President Luis Muñoz reported that the 2013 harvest looks set to be a bumper crop, with a 41% increase over 2012, to 11 million sacks.

This means the domestic price is now less than $200 per unit, similar to what it was in 2005, reported the Colombian newspaper El Colombiano on Monday.

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In recent years, after protests and negotiations, Colombia’s coffee industry is currently receiving $443 million in government aid to help them cope with the fall-out from a plant disease that ravaged Colombia’s high-quality arabica crops.

MORE: Colombia coffee fund falls under accusations of fraud

Muñoz said for a “competitive industry” the government should provide more assistance.

Colombia’s coffee exports still accounted for $1.9 billion in 2012, accounting for 0.5% of Colombia’s $336.3 billion GDP.

Sources

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The post Coffee price lowest since 2005, industry needs help: Colombia Coffee Growers appeared first on Colombia News | Colombia Reports.

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Rico
"Rico" is the crazy mind behind the Q media websites, a series of onlinemagazines that includes TodayColombia.com. Rico brings his special kind of savvy to online marketing. His websites are engaging, provocative, informative and sometimes off the wall, where you either like or you leave it. The same goes for him, like him or leave him.There is no middle ground. No compromises, only a passion to present reality as he sees it!

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