12 June 2012

COLOMBIA / COMMODITIES : Minister Claims Coffee Sector In Crisis; Robusta Beans On The Rise.


     Ag Minister Juan Camilo Restrepo reports the nation's important coffee sector is in 'crisis' after production decreases of 1/3...in just 4 years.
    Restrepo says arabica production fell from 12 million bags...to 8 million bags....mainly because of a fungus.
    The price paid for the desirable arabica beans has also fallen by 30%.
    It has fallen from the 2011 high of $1.90 per pound to $.60.
    And...REUTERS reports that major coffee sellers have recently added more robusta beans  than normal...especially from Brasil...to lower costs and boost profits...without significant consumer backlash.
      TO READ: