Daily Coffee Report 6/8/26
Daily coffee report
StoneX Coffee Team
- Coffee
Colombian Coffee Exporters Asks President Petro To Foster Fertilization, Renovation
By: Diana Delgado, Contractor
Colombian Coffee Exporters Asks President Petro To Foster Fertilization, Renovation
Coffee Network (Bogota) – The Colombian exporters association Asoexport is requesting the country’s new president Gustavo Petro to foster fertilization and renovation amid skyrocketing fertilizer prices, Gustavo Gomez, director of the country’s coffee exporters association, said.
“What we are requesting is incentives to continue with the fertilization of coffee plantations. The cost of fertilizers increased after the war between Ukraine and Russia, and now with the depreciation of the peso,” he told Coffee Network.
Asoexport will make the requests to Petro during the 86th coffee exporters summit to be held in Cartagena on November 4.
The Colombian coffee growers federation (FNC) yesterday made an urgent call to coffee growers not to neglect the renovation of coffee plantations, a fundamental practice to maintain young crops, which in turn translate into more productive and profitable plantations.
The area of renewed coffee plantations has decreased by 30% compared to October 25 of last year.
“Today we have some 130,000 hectares (ha) renewed (age less than or equal to 24 months) of the Colombian coffee park, when we should have carried about 168,000 ha. Coffee growers must be clear that these hectares are the ones that will respond for part of their production in 2024 and another more important part in the harvests of the years 2025 and 2026”, explained Hernando Duque, technical manager of the FNC.
The Petro’s administration has said the government plans to subsidize the cost of fertilizer amid booming prices. In addition, Petro returned the control of fertilizer producer Monomeros Colombo Venezolanos to Venezuelan president Nicolas Maduro’s government. As a result of the move, Monomeros received 16,000 tonnes of urea from Venezuela in late September at a discounted rate. The first cargo of urea was sold at $600/t, a price that Colombian ambassador to Venezuela Armando Benedetti said is $100/t less than that available from other sources. Monomeros is the Colombian subsidiary of Venezuelan state-owned company Pequiven.
Gomez also requested Petro to improve tertiary, secondary and even main roads in Colombia, many of which are destroyed because of 28 consecutive months of torrential rains.
“Last week, access to the (Pacific) port of Buenaventura was blocked for three days because of a landslide,” Gomez said.” With the current state of the tertiary roads and the connectivity, we are not competitive,” he said.
Trucking costs have also increased between 30%-50% since the national strike took place last year, increasing costs to coffee exporters.
Asoexport is also requesting the new government to ensure fiscal sustainability and maintain “clear rules” so that policies continue to allow the free commercialization of coffee.
Booming local coffee prices will boost the value of the harvest to around COP14 trillion Colombian pesos (US$2.8 billion), despite coffee production could be below 12 million bags in the 2022 calendar year, he said.
The Colombian peso has hit the lowest level in its history, which would likely propel local coffee prices.
The peso has surpassed the COP5,000 threshold, the lowest in history since yesterday. The Colombian has weakened about 13% since Petro took office amid investor concerns over the agenda of the first leftist president in the history of the Andean nation.
Local coffee prices are calculated daily taking into consideration the fluctuations of the Colombian peso to the dollar, international coffee prices and the premium for Colombia coffee.
By Diana Delgado
- Coffee
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