Costa Rica’s Coffee Sector Receives Much Needed Boost Thanks to International Price Hike

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    The Costa Rica News (TCRN) – The increase in the international price of coffee has filled the Costa Rican coffee sector with optimism, as confirmed by the president of the Coffee Institute of Costa Rica (Icafé), Ronald Peters.

    From their point of view, although the projection for the crop this year is still reduced by 20% compared to 2013 (only reaching 1,800,000 bushels), producers are hopeful that the situation will improve.

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    Another factor which is also encouraging to producers is that in the coming days will be the Coffee Trust signed by the Comptroller General of the Republic (CGR) for an amount of ¢20,000,000,000.

    This contract was signed by the Ministry of Finance, the Ministry of Agriculture, the Bank of Costa Rica, the Joint Social Welfare Institute and the Coffee Institute of Costa Rica.

    Priority will be given to finance social programs like the Venture and Bootstrap Joint Social Welfare Institute (IMAS); the granting of credit at favorable interest rates for the care or renovation of coffee plantations; and the readjustment of debts affected.

    The Costa Rica News (TCRN)

    San Jose, Costa Rica

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