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Colombia To Examine Selling Coffee At Its Own Price, Ignoring New York Market

From: reuters.com

BOGOTA (Reuters) – Colombia, the world’s top producer of washed arabica, will look into selling its harvest at a price which covers production costs, without being tied to the New York market price, the national coffee federation said on Tuesday.

The federation has long sounded the alarm about low prices, which leave many growers operating at a loss, making the case to large coffee buyers that they should ensure producers make a profit and asking the government for subsidies.

Farmers need to make 760,000 pesos (about $240) per 125 kg (275 pounds) shipment on the internal market to meet production costs, the federation has said. Prices on the internal market were 690,000 pesos per shipment on Monday.

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