US financial crisis not affecting price of coffee
The financial crisis in the United States is still not affecting the price of coffee in the international market.
Thursday, September 25, 2008
Max Quirin, coffee producer and ex-president of the National Coffee Association (Anacafe), commented that if the financial problems do no lead to a recession in the US as well as in Europe, the global consumption level will be maintained or grow slightly.
The downward trend in grain prices continues, and the National Coffee Association has estimated a 20% decline in revenues from grain exports during 2012.
According Anacafé, international grain buyers are delaying their purchases, waiting for prices to fall.
The scarce supply of Colombian coffee is causing big distortions in international markets.
The price of coffee in the international market have stabilized at around $110 per 60 kilo sack.
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