Last Friday (10th February) the grain traded at $220.60 per quintal, while on Wednesday (15th February), the price per quintal was $200.40.
The decline has caused concern among Guatemalan farmers, reported ElPeriodico.com.gt. Ricardo Villanueva, president of the National Coffee Association (Anacafe) said that the prices are not governed by supply and demand but by uncertainty over the global economy. According to Villanueva, this downward trend will negatively impact national farmers as it coincides with the harvest season and establishing sales with international buyers.
"It's like beer foam, it (high prices) could disappear at any time”, said Gerardo de Leon, marketing manager of the Agricultural Cooperative Federation of Coffee Producers of Guatemala (Fedecocagua).
De Leon said many farmers had counted on prices remaining above $200 and even over $250, although prices of $197 per quintal still gives them a profit margin.
Source: elperiodico.com.gt
More on this topic
October 2010
Farmers expressed concern about the possible entry of Brazilian coffee bean in contract "C" of the NY Stock Exchange.
The National Coffee Association (Anacafe) noted that the entry of Brazil could bring down the price of national aromatic high quality bean.
Prensalibre.com reports that according to Ricardo Villanueva, president of the National Coffee Association (Anacafe), "...
July 2011
The Trust for financial support for the coffee sector has made $38 million available for financing the sector.
The coffee price crisis of 2002, which affected small producers, was the reason for the creation of the trust, which has since provided funds to farmers for different situations that the industry has faced.
July 2011
Coffee sales abroad in the years 2011-2012 are estimated to increase by 17%.
A 17% increase in export of the harvest which begins in August and ends in October 2012, is expected by the National Coffee Association (Anacafe).
If these estimates are met it would mean that for the first time Guatemala will export the equivalent of $1,000 million worth in bags of coffee, a figure which could be achieved partly thanks to high grain prices that currently prevail internationally.
July 2011
Although low, the final price paid exceeded the specialty coffee auctions in Costa Rica, El Salvador and Nicaragua.
The Cup of Excellence auction, hosted by Coffee Bean International for Target in the United States, ended with the sale of coffee from the “El Socorro” farm, which sold a lot of 26 quintals at $2012 each.
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