Coffee Price Dropped to 29,7%

Coffee in the world

The price of the arabica coffee quintal dropped to 29,7% during the last two weeks in the International market. That percentage represents the biggest blow in the last 16 months.

According to the National Agricultural of Commodity Exchange said the quintal went from $157,60 on April 26 it fell to $110,67.

Lider Velez, president of the National Coffee Exporters Association (Anecafe for its Spanish acronym), assured that countries like United States and nations of the European Union registered contractions in demand.

Velez informed that Ecuador produces 200,000 bags of 60 kilos of coffee, from this quantity it exports the 95%. (AV)