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Meta
Autor: rod
~ 06/11/07
by Rod Hughes
It looks like a good year for Costa Rica’s coffee producers. Already, 45% of the 2007-8 crop has been sold and the price has shot up for premium coffee 17%. And harvest is just now beginning at lower altitudes.
Costa Rica’s premium coffees are drawing higher bidding than the average futures on the New York Stock Exchange. The closing price yesterday on NYSE was $119.95 per quintal (a 46-kilo sack weighing a bit more than 100 lbs.) for delivery in December, while Costa Rica’s beans are going for $20 more.
Some cooperatives have pledged 70% of their projected output to future sales. Coffee Institute (Icafe) executive director Ronald Peters said the higher price reflects the confidence the expert buyers have in the country to produce consistently high quality.
The retail coffee giant Starbucks being a satisfied customer does not hurt, either.
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