Colombian coffee growers celebrate record prices for beans but also warn of some problems

Published 2024년 11월 29일

Tridge summary

Colombian coffee growers are celebrating as coffee prices have reached a record high on the international market, with the price per pound increasing from US$3.04 to US$3.23 within a week due to lower expectations in Brazil's harvest caused by drought and fires. This situation has led to a significant increase in the quotation of coffee on the New York Stock Exchange, a achievement that the National Federation of Coffee Growers (FNC) of Colombia highlights, given the resilience and dedication of local producers despite the logistical challenges and disruptions in the export chain, such as a lack of containers and space on cargo ships, which are impacting the quality, safety, and efficiency of coffee exports from the country.

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Original content

Colombian coffee growers are celebrating the fact that the grain has reached record prices this week on the international market, a situation that may be affected by the lack of availability of containers and space on cargo ships. The rise in prices on the New York Stock Exchange has been progressive this week. On Monday, the pound of coffee closed at US$3.04, on Tuesday buyers paid US$3.08 and on Wednesday it rose to US$3.23. On Thursday the markets did not operate due to the Thanksgiving holiday. According to experts, this upward movement in prices is mainly due to the lower expectations of Brazil, the world's largest producer, whose harvest will be affected by a serious drought affecting that country and by the fires. Record coffee prices The general manager of the National Federation of Coffee Growers (FNC), Germán Bahamón, echoed the good prices on the New York Stock Exchange, who highlighted the coffee production in Colombia. “Without production, this great price would not ...

Source: Biobiochile