Ricardo Espitia, director of the institution, is predicting a harvest of 2 million quintals, which would mean a decrease of 3.7%.
Up to now, they have sold 25% of the harvest (some 465,000 quintals) in the futures market at an average price of 144 dollars. This sale becomes a shock absorber in case prices, which last month started to decline due to the economic crisis, remain low.
The National Coffee Commission foresees a decline of $100 million in export values for the 2008 - 2009 cycle.
Walter Navas, Director of Conacafé informed Elperiodico.com.ni: "It is estimated that 1.3 million quintals of coffee will exported this year, while the previous harvest allowed the foreign sale of 2 million quintals.
A difference of 400 million quintals from the previous projections (1.9 million) and the final export figures (2.3 million) suggest grain smuggling from Honduras.
An article in Prensa.com.ni reports that, according to statistics from the Center for Export Procedures (Cetrex), the 2011-2012 coffee harvest was 2.3 million quintals, well above the 2.09 million of the previous harvest, and 400 million quintals above earlier projections of the harvest, which was of 1.900 million quintals.