A pack of 425 grams of ground coffee that cost $08.04 in March 2010, now costs $6.59, according to the Basic Food Basket.
This increase in price is explained by a reduction of around 10% in production and increased costs, which have doubled in the last 4 years, explains Ricardo Koyner, from Cafe Kotawa, adding that the international price variability creates high risks for the activity.
Meanwhile Carlos Aguilera, from Carmen State Coffee, said that prices will remain high for a while, since there are still stocks of green coffee purchased at prices above $300.
"This is nothing new, even the experts argue that it is a cyclical phenomenon, as every 10 years there is a spike in international prices due to lack of coffee," reports martesfinanciero.com.
A drop in productivity from 30 to 23 quintals per hectare in coffee plantations in Costa Rica has made it difficult to fulfil the total current demand from buyers like Starbucks.
As well as affecting the supply to Starbucks, the decline in production of quality coffee will also affect supply to other large buyers such as Nespresso, Green Mountain and Royal Coffee admitted Ronald Peters, president of the Coffee Institute of Costa Rica (Icafe).
With the reduction in harvests in Mexico and India, sugar production could decline for the first time since 2009.
World production of sugarcane could decrease by 51% during the 2013-14 season compared to the 2012-13 period, as a result of the decline in prices caused by a fall in production in Mexico and India, according to researchers at Kingsman SA.
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