From Origin

Colombia Losing Coffee Crop Area Due To Low Prices

From: reuters.com

BOGOTA (Reuters) – Colombia has lost 40,000 hectares (99,000 acres) of coffee planting area over the last 18 months as farmers leave the industry amid low prices, the head of the coffee federation said on Wednesday, warning of a “humanitarian crisis.”

Robusta coffee slumped to a nine-year low on the New York market, while arabica touched a 13-year low of 88 cents per pound on Tuesday, as output exceeds global demand.

The domestic price received by Colombian farmers for every 125 kg (275 lb) shipment was 688,000 pesos ($209), which does not cover production costs estimated at 780,000 pesos ($237), Roberto Velez, head of the National Federation of Coffee Growers, said in an interview.

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