COLOMBIA: Coffee sales set to soar
Colombia's coffee sales are forecast to surge 60% to US$1.56bn in 2005 - its highest increase in 15 years - fuelled by soaring prices, local trade lobby Federacion Nacional del Cafe announced.
However, exports are expected to reach 10.7m sacks (of 125 kilograms), down from 11m sacks last year, hurt by the local peso currency's rise against the US dollar, an FNC official confirmed.
Colombian coffee grain prices have jumped as high as $1.30 per pound this year, up from $0.70 last year, local press reported. But the currency's rise (estimated at 10% this year) is prompting worries about the sector's long-term health.
The FNC official said that the industry is lobbying the government to find ways to resolve the matter to prevent future sale declines.
Roughly 560,000 Colombian families live from coffee harvesting, which mostly takes place in the Quindio, Caldas, Risaralda, Tolima, Antioquia and Valle regions.
Sectors: Soft drinks
- The end is nigh for Global Travel Retail - Comment
- Five ways small brands can beat big players
- Interview, Bulldog Gin founder Anshuman Vohra
- Pernod Ricard's Q1 results - Preview
- Pernod Ricard Q1 2017 results by region, brand
- Diageo most at risk to Thai alcohol ban - analyst
- Jobs at new India hub won't affect staff - Diageo
- Stumbling UK Pound prompts Conviviality price hike
- US craft spirits could be as big as craft beer
- AB InBev fund ZX Ventures buys homebrew co
- Global gin insights - market forecasts, product innovation and consumer trends
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends
- Global rum insights - market forecasts, product innovation and consumer trends
- Global Wine Market 2016-2020
- Global RTD insights - market forecasts, product innovation and consumer trends