Coffee prices fall to lowest in 12 years

he world price of arabica coffee fell on Tuesday to 98 US cents a dollar per pound, its lowest level in more than 12 years.

Arabica coffee is the type overwhelmingly produced in the tropical highlands of Central America, Colombia and Mexico. At current prices, producers say they are losing money.

The low international prices have made a severe impact in the coffee-growing area of Honduras, currently the world's fifth leading producer. President Juan Orlando Hernández yesterday issued two decrees that provide $280 million to help 120,000 families that produce coffee.