Source:Best Coffee > News Author:qjroot Published:2024-06-19 18:04:43
Recently, the Colombian Coffee Growers Federation (FNC) released the May status report on Colombian coffee, showing that coffee production in Colombia reached 1.12 million bags, a 38.9% increase compared to the same period last year, indicating strong performance.
In May, the average domestic coffee price in Colombia was 1,596,129 pesos (approximately $412) per quintal (125 kg), down 4% compared to April and down 15.8% from the same period last year when the price was 1,895,968 pesos. The price decline was due to a 4.2% drop in New York coffee futures contract prices, while the year-on-year decrease was influenced by the impact of exchange rates and coffee differentials.
Although coffee production has improved in May and is largely free from the impact of El Niño, there are still concerns about future weather conditions. In recent days, heavy rainfall has frequently occurred in multiple Latin American countries, triggering natural disasters such as floods and landslides, resulting in serious casualties and property losses.
Previously, Colombia was still experiencing ongoing internal conflict. According to reports, in Cauca Department in the southwestern part of Colombia, violent activities by anti-government armed groups have recently intensified, with incidents such as bomb attacks and shootings affecting the local coffee industry. Recently, there has been good news that the Colombian guerrilla group "National Liberation Army" (ELN) held a meeting of representatives from various factions and issued a statement reaffirming the group’s willingness to abide by the commitments made in the peace talks agreement with the Colombian government.
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