Colombian farmers have inflated world coffee prices

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Colombian farmers have inflated world coffee prices
Colombian farmers have inflated world coffee prices
12 October, 15:25In the world
Colombian producers kept 10% of the coffee harvest - about one million bags - by canceling contracts in order to resell the goods more profitably.

According to Reuters, in connection with the cut supply of coffee, the world prices for the product rose sharply. Now buyers can lose $ 8-10 million.

It's worth reminding that Colombian suppliers are the largest in the world.

Already today, a 55% rise in coffee prices is noted due to unfavorable weather in Brazil, a leading coffee producer. At the same time, the second supplier of coffee in the world - Vietnam - introduced covid restrictions, due to which supplies are greatly delayed. Arabica and Robusta prices hit multi-year highs.

According to experts, prices for arabica and robusta have reached multi-year highs. Most suppliers have contracts signed for six months in advance, but if the lockdown in Vietnam drags on, and next year's harvest in Brazil is unsuccessful, coffee in stores and cafes will rise in price.

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