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-The FNC Steering Committee deeply thanks President Duque and the Ministers members of the National Committee for the additional $ 60 billion of the $ 95,500 pesos, as well as commitment and support to the sector, and recognizes the effort in the current fiscal situation in the country. - The FNC will continue advancing efforts before the most important players in the global industry so that producers receive a better price, which allows them to cover their costs and be profitable.
Bogotá, March 21, 2019 (FNC Press) - With the announcement of an additional $ 60,000 million, the national government will provide resources for $ 155 billion to the coffee sector so that producers can better face the serious price crisis that afflicts them.
The announcement was made directly by the President of the Republic, Iván Duque, to the Manager of the National Federation of Coffee Growers (FNC), Roberto Vélez Vallejo, as a result of the efforts of the coffee institutionality, through the Steering Committee, to seek solutions before the sustained fall in the price of grain, which directly affects more than 500 thousand coffee families in the country.
President Duque also expressed his commitment to coffee growers and his permanent support and willingness to dialogue with his institutionality, as well as to support international efforts with his counterparts in producing countries, which includes an eventual summit within the framework of the General Assembly of United Nations in September.
Once the President's announcement has been made, the National Committee will now have to define the details of how these resources will be elivered, which could be used to renew coffee plantations and / or direct assistance programs for the price.
The FNC Steering Committee deeply thanks President Duque and the National Committee member Ministers for their commitment and support to the sector, and asks them to continue evaluating alternatives to support coffee growers, especially if the sharp and systematic fall is taken into account of the external and internal price, which affects the income and stability of Colombian coffee families.
The Manager, for his part, will continue to present to the most important actors in the global industry the need for producers to receive a better price, which allows them to cover their costs and be profitable, so that the chain as a whole is sustainable, This includes the possibility that the price of washed soft coffees is no longer tied to the New York Stock Exchange.
Current context of the coffee price situation
- The international reference price for soft coffees (Contract C) completes 27 months falling systematically, which has taken it from 160 cents per pound in November 2016 to 94.75 on March 20, 2019.
. This situation has intensified since September 2018, with a fall of 26% compared to September-17, registering an average of 98 cents per pound and a minimum of 92. Since August 2006, Contract C did not fall below of the dollar per pound . El precio interno base de compra(compuesto por el precio del Contrato C, el diferencial por calidad y la tasa de cambio) ha caído en promedio 16% en el primer trimestre, respecto al año anterior. Esto significa que los productores han recibido en promedio cerca de 172 mil pesos por carga menos, al pasar de $850 mil en marzo de 2017 a $678 mil el 20 de marzo de 2019.
- As a result of the fall in the domestic price of coffee, by 2018 coffee growers stopped receiving about 1.3 billion pesos, compared to the value recorded in 2017 (7.5 billion pesos), which has a negative economic impact in coffee regions and for the country as a whole.