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Coffee crisis: 'You can't image how urgent it is'

Monday, September 17, 2018

Coffee producers from all over the world are pleading for urgent meetings with such leading clients as Starbucks and Nestlé amid a crisis in precious without precedent in recent years.

The World Coffee Producers Forum launched the plea at a press conference in London early today. "This is a time of desperation for 25 million coffee producers all over the world. This is a crisis that you simply couldn't imagine," said Roberto Velez, leader of the Colombian producers.

Prices are running at a 12-year low. Futures of the high-quality arabica coffee produced in Central America and Colombia today were once again below one dollar per pound, a price that producers say is very much less than they can cover their costs.