25,000 tons of coffee have been held in Peru due to shipping problems

Published 2021년 11월 5일

Tridge summary

At least 25,000 tons of Peruvian coffee have been held in warehouses for nearly three months due to a lack of shipping companies for exports, causing concern for small and medium roaster buyers in Europe and Asia. The situation has affected the liquidity of producers, with estimates putting the loss at US $ 120 million. The National Coffee Board (JNC) has lowered its expected export volume for the year from 3.6 million bags to three million. The board is planning to meet with the Ministry of Foreign Trade and Tourism to address the shipping issue. The production of coffee is also down due to climate change and increased production costs. A new National Coffee Institute is being established to reactivate the industry and increase production.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

(Agraria.pe) At least 25,000 tons of Peruvian coffee (600,000 quintals approximately) have been held in warehouses and warehouses of cooperatives for almost three months due to the lack of shipping companies that can complete the export operation. The situation is mainly worrying small and medium roaster buyers in Europe and Asia, said the general manager of the National Coffee Board (JNC), Lorenzo del Castillo, who estimates that the amount of aromatic grain that has not been able to mobilize rises to US $ 120 million affecting the liquidity of producers who, 80%, are dragging debts in credit bureaus. This 2021 is a good year for aromatic beans in terms of prices - in October parchment coffee was quoted at US $ 200 per quintal on the New York Stock Exchange and more than US $ 250 for an organic or fair-priced coffee-, however, the international freight problem limits the opportunity to make more shipments. Thus, from January to August, the exported volume fell 23.5% compared to ...

Source: Agraria