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Colombia Buying Peruvian Beans to Make Up for Down Harvest

Colombia buying Peruvian beansTo make up for a down harvest, Colombia has nearly tripled its purchase of Peruvian coffee. Eduardo Montauban, head of the Peru’s Coffee Chamber told Bloomberg BusinessWeek that Colombia — the world’s second-largest arabica producer — has bought 99,518 bags of Peruvian coffee through February, compared to 36,545 bags at the same time last year.

Colombia accounted for 22 percent of the coffee purchased from Peru in January and February, making it the second largest buyer of Peruvian beans behind the United States, according to the Bloomberg report.

“Colombia’s a good market and pays a good price,” Montauban told Bloomberg. “They’ve had a production deficit for several years, so that’s a window of opportunity for Peru.”

Colombian coffee production is expected to reach a 25-year low this year due largely to severe rainfall and disease. In Peru, meanwhile, coffee may be taking off. Montauban told Bloomberg that Peru is investing in doubling its plantations over the next 10 years. Investments are being made in infrastructure and in trade agreements with Asian countries and other major coffee buyers.

The full story: Bloomberg BusinessWeek


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