Colombia, the world’s leading producer of washed Arabica, has called for a floor price of US$2 per pound for coffee.
“Is it fair to trade when someone buys your product below the cost of production?” said the head of the National Federation of Coffee Growers, Roberto Vélez, at a fair trade conference in Bonn, Germany. His remarks were reported by Reuters.
Reuters said Mr Velez did not detail how the floor of US$2/pound could be achieved.
In February, Mr Vélez raised the possibility of decoupling Arabica grown in Colombia from the ‘C’ contract in New York.