Price of Coffee drops
According to data from the International Coffee Organization (OIC), coffee prices dropped 14.5% compared to September.
Monday, December 1, 2008
Nestor Osorio, executive director of the OIC, which publishes the monthly evoluction of the coffee prices each month on its webpage, said it was a "steep drop", and in reference tot he financial crisis, said that "it seems to be influencing the drop in the prices of all basic food products."
The international price of coffee has increased 30% in the past two weeks.
Very good harvests in Vietnam and Brazil, and a drop in European demand are the factors affecting prices, which continue to decline.
The price of coffee fell $25.45 in a month, but the Coffee Institute of Costa Rica (Icafe) insists that this is due to speculation and not due to actual increase in supply.
The monthly average composite indicator price in April was $160.46 cents / pound compared to $167.77 in March. The prices were less volatile in April than in March.
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