BOGOTA, Apr 13 (Reuters) – Colombia will give coffee farmers an additional $32 million in subsidies and tree deputy aid, President Ivan Duque pronounced on Saturday, amid low general prices that have left growers struggling to mangle even.
Coffee prices on a New York marketplace have hovered during or next $1 per bruise so distant in 2019, as outlay surpasses direct on a tellurian market.
Duque’s administration had formerly affianced to spend 155.5 billion pesos (about $50 million) on assistance for growers, though a coffee-growers association pronounced final week that volume was not adequate for a 540,000 families who make their vital from coffee.
Some 38 billion pesos of a additional supports will go toward tree deputy efforts, Duque pronounced during an eventuality in a city of Timbio, while 60 billion will go to subsidies.
The supervision has concluded to give subsidies of adult to 30,000 pesos per 125 kg (275 lb) conveyance of coffee when a domestic cost falls next 715,000 pesos per shipment. The inner cost per conveyance was 660,000 pesos on Friday.
The association pronounced in Feb it would plead a probable unlinking from a New York benchmark cost with other producers of high-quality arabica and buyers in an bid to sell coffee above prolongation costs.
Exporters and importers contend such a pierce could send buyers looking for other producers.
Colombia will pull for coffee prices to be discussed during a United Nations General Assembly in September, Duque said.
“I consider we need to open a good contention during a general turn about satisfactory coffee prices, about a split between arabica coffee and robusta coffee, also about a split of specialty coffees,” he said.
$1 = 3,113.91 Colombian pesos
Reporting by Julia Symmes Cobb; Editing by Dan Grebler