Costa Rican Coffee Producers Are Concerned About Lower Prices for 2023/24 Harvest

Costa Rican coffee producers are currently in the midst of harvesting the 2023/24 crop, facing two primary concerns. Firstly, a decline in the price of ripe coffee fruit is causing apprehension, as increased production in Brazil has led to a drop in international coffee prices. The expectation is for prices to remain low, compounded by the Costa Rican colon's revaluation in 2023. In the 2020/21 harvest, local coffee prices were approximately USD 225 per 50 kilogram (kg), dropping to USD 200/50 kg in the 2021/22 season, and the outlook for the current harvesting season anticipates prices staying around USD 200/50kg. Secondly, the El Niño Effect is causing uncertainty among producers, as it has the potential to induce severe drought conditions, adversely affecting productivity.