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Colombia coffee accord ends producers' strike

Friday, March 8, 2013

The Colombian government and coffee farmers on Thursday reached an agreement to end the coffee strikes which mobilized some 90,000 people across Colombia.

"I celebrate the agreement with the coffee farmers. It's an immense fiscal effort for a guild that has always been in my heart," announced President Juan Manuel Santos on Twitter.

The agreement is called the Protection for the Income of Farmers (PIC), and will ensure that coffee farmers receive a subsidy of $70 for every load of coffee produced, which is roughly equivalent to 25% of the total price of a load of coffee.

Source: Colombia Reports