PNG Coffee and Cocoa Farmers Encouraged to Tap Into Global Demand

PNG Coffee and Cocoa Farmers Encouraged to Tap into Global Demand

As Papua New Guinea marks its 50th year of independence, Prime Minister James Marape is calling on farmers to seize an unprecedented opportunity to profit from record global prices for cocoa and coffee.According to Mr Marape, Arabica coffee is currently trading above US$4.40 per pound, while cocoa has stabilised at around US$8,000 per metric tonne — levels not seen before. He said these prices, combined with a favourable exchange rate of about K…

The price of coffee has risen sharply since the beginning of the year. An Icelandic coffee producer says a crop failure, uncertainty in the markets and pent-up demand are the main reasons for the increase. Morgunblaðið discussed the rising world market price of coffee today, which has risen by nineteen percent since the beginning of the year. According to the price monitoring agency ASÍ, the price of coffee in the country's four largest supermar…

Soaring coffee prices aren’t the negative being portrayed

Finally farmers are being paid a fairer price that reflects their hard work and expertise. Recent headlines about the coffee industry have been dominated by the news of the price of the commodity reaching record highs, but the real story is that coffee has been sold far too cheap from its countries of origins to the West for far too long. Just like grain, gold and oil, you can buy large quantities of coffee on the commodity market. Here, traders…