Colombia launches Coffee Price Stabilization Fund to compensate producers for economic losses

"The compensation equal to 80% of the price of coffee beans per kilogram is the maximum allowed by law. In other words, Colombian coffee growers will receive the maximum compensation allowed by law," explained Jhenifer Mojica, Colombia's Minister of Agriculture, at the conference. "We make this commitment to coffee growers at a time when they are suffering economic losses." Mojica stressed that the government's decision to launch the fund was based on data collected in technical analysis. The data showed that the impact of falling international prices, rising production costs and the El Niño phenomenon has already been seen. President Gustavo Petro also attended the Coffee Conference and spoke about the main challenges and opportunities facing the coffee industry. In his speech, Petro condemned the inequality between coffee producers and large organizations that have gained the most benefits; he also called attention to the decline in coffee production and exports that Colombia ...