Coffee dips below the $100 barrier in New York

Coffee producers in Central America were dealt a new blow by the New York markets that set a price of less than $100 a bag yesterday.

The new price of $97.25 per bag is below what traders regard as a psychological barrier for coffee and are lower than production costs.

In Honduras, Central America's leading coffee producer, President Juan Orlando Hernández announced a $200 million package of new loans to soften the blow for growers.