Colombia To Create Fund To Rescue Coffee Farmers When Prices Drop

From: reuters.com

BOGOTA (Reuters) – Colombia, the world’s top supplier of washed arabica, is creating a special fund to subsidize coffee farmers when production costs fall below international prices.

The stabilization fund, announced by President Ivan Duque late on Thursday, is the country’s latest bid to help farmers struggling as coffee prices have fallen to their lowest in more than a decade and many are operating at a loss.

The global price crisis has pushed large numbers of them out of business, with potentially wide-ranging implications in Colombia, where coffee is the chief alternative crop to coca, a plant used to produce cocaine in regions controlled by rebels.

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