Colombia set a fund to stabilize coffee prices

According to Colombian Finance Minister Alberto Carrasquilla, the fund will allow coffee growers to cover production costs and avoid the losses that they have faced before due to falling international coffee prices.

Through this mechanism, coffee growers can ensure a stable price within 6-8 months, or even 1 year when the harvest time comes. This also gives farmers peace of mind and ensures that their products are predetermined in price and more dedicated to producing the best coffee in the world without worrying about ups and downs in prices. Colombia's Agriculture Minister Andres Valencia, meanwhile, said the fund has fulfilled the long-held wish of Colombian coffee growers for a tool to help them protect their crop prices.

As a country with a long tradition of growing coffee for more than hundred years in difficult-cultivated hilly areas, Colombia is the third largest coffee producing country in the world, with 880,000 hectares of coffee farms and about 560,000 households. The family is involved in the production of this nut. In 2019, Colombia's coffee production reached a record level of 14.8 million bags (60kg), the highest in 27 years, thanks to increased productivity and good weather conditions.