Bananas and coffee exports

Colombian banana exports have not yet shown symptoms of the global financial crisis, and consumption of the fruit remains strong, despite the difficulties of the economy.

The International Trading Uniban has noted that the consumption of Colombia fruit in the markets of United States and Europe remain strong in this adverse situation.

For the president of Uniban Luis Fernando Arango Arango, the pace of shipments to international markets continued since last year when we exported 41 million boxes of bananas and two million plantains.

The banana producers and exporters have achieved profits of $9 thousand 500 million pesos and made investments of 40 billion pesos, especially in the infrastructure of ports and they will invest 30 billion pesos for the maintenance of said port.

Trade and consumption of Colombian fruit remains strong because its fine quality of because of its affordable price around the world, said Mr. Arango.

New York, April 6 - J.M Smucker Co's Folgers coffee brand has raised the list price of its 100 percent roasted Colombian coffee by an average of 19 percent, effective immediately, the company said on Friday.
"This increase reflects the significant cost in Colombian beans due to supply issues with Colombian coffee," spokeswoman Maribeth Badertscher.

Colombia is the third biggest coffee producer in the world. The combination of heavy rains and a renovation program to replace old coffee trees with new ones has caused supply shortages and shipping delays in the country.

The tight supplies have caused the cash market to soar, with the premium for Colombian UGQ (usually good quality) beans selling at an average of 59.5 cents over the ICE benchmark "C" coffee futures contract.

The ICE benchmark May contract .closed up 1.60 cents at $1.1840 per lb Friday.

By BillBigD on Apr 6, 2009, 18:38 in Friendly Talkzone.

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