BOGOTA – Colombia is facing an uncertain future with its coffee exports, with production that is barely starting to overcome its crisis, National Coffee Export Association President Carlos Rojas asserted.
In statements to El Expectador daily newspaper, he said the situation is complicated in the foreign market, especially due to non-availability for foreign demand.
Years ago, we had a 12-million-sack average production. Now, we’re hoping simply to reach eight million, after a drop in the harvest, he said.
If it is not profitable for the producers, we will not be able to meet international market demand.
Rojas also referred to price volatility, related to revaluation of the Colombian national currency.
Although prices are above the average over the last decade ($1.65 US per pound in the market) “the worst headache is still currency appreciation,” he said.
In this respect, one of the experts on the issue, Daniel Niño, said that at the end of the current year there are few prospects for greater revaluation, adding that after registering recent coffee prices (over $2.00 US a pound) the backward movement is clear.
The International Coffee Organization asserted in a recent report that although Colombian coffee production is recovering, “returning to production levels of the beginning of this millenium will take time.”
Source: Prensa Latina
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