News

Columbia launches $63.9 million fund to stabilize coffee prices

Image courtesy of iStock.

February 20, 2020

Colombia, the largest producer of washed arabica coffee, has created a $63.9 million fund to stabilize coffee prices and protect farmers from volatile markets. The fund will enable coffee farmers to pay production costs and evade losses from unexpected price swings, according to a Reuters report.

The government will provide most the fund, but coffee growers will also contribute, Finance Minister Alberto Carrasquilla said.