BOGOTA – Coffee production from Colombia surged 40% on year in February to 874,000 60 kilo bags, the highest level for the month since 2008, according to the monthly report issued yesterday by the Colombian Coffee Growers Federation (FNC).
During the past twelve months (March 2013- February 2014,) coffee production reached a total of 11,269,000 bags. This accounts for a 35% increase compared to the 8.1 million bags produced in the previous 12-month period, says the report.
Additionally, coffee production reached 4,873,000 bags during the first five months of the current coffee year (October 2013-February 2014.) A registered 35% increase compared to the 3.8 million bags produced between October 2012 and February 2013.
Coffee exports rose 35% reaching 976 thousand 60 kilo bags. Additionally, during the past twelve months coffee exports reached 10.154.000 bags, a 34% increase compared to the 7.5 million bags sold between March 2012 and February 2013.
Coffee year to date exports totaled 4.9 million 60 kilo bags, meaning a 37% increase compared to the 3.6 million bags sold in international markets during the same period in 2013.
Colombian coffee is again selling at $2 a pound, as international coffee prices were the highest since July 2012, said the International Coffee Organization (ICO) on Tuesday.
Until recently, Colombian coffee farmers have been facing decreasing international prices and the ongoing issue of leaf rust. This has prompted many producers to take the costly step of renewing their plantations with disease resistant crops. With the internal price of coffee now hovering at around $400 per load coffee growers are only just beginning to see a small profit margin in the commodity, which was sold at a 40% to 50% loss towards the end of last year, according to Colombia Reports. However, this latest price increase cannot, for the moment, be enjoyed by the majority of coffee growers in Colombia’s important Eje Cafetero coffee region, reports the website. They currently have little to sell and have to wait for the next harvest, set to begin later in March and April.
As the harvest begins, the farmers will hope that prices will increase even further or at least remain steady for the remainder of the year.
