Reuters exclusively reports major coffee buyers face losses as Colombia farmers fail to deliver

Reuters reported exclusively that coffee farmers in Colombia, the world’s No. 2 arabica producer, have failed to deliver up to […] The post Reuters exclusively reports major coffee buyers face losses as Colombia farmers fail to deliver appeared first on Reuters News Agency.

Reuters exclusively reports major coffee buyers face losses as Colombia farmers fail to deliver

Reuters reported exclusively that coffee farmers in Colombia, the world’s No. 2 arabica producer, have failed to deliver up to 1 million bags of beans this year or nearly 10% of the country’s crop, leaving exporters, traders and roasters facing steep losses. World coffee prices have soared 55% this year, mainly due to adverse weather in top producer Brazil, prompting Colombian farmers to default on sales clinched when prices were much lower in order to re-sell the coffee at higher rates.

The post Reuters exclusively reports major coffee buyers face losses as Colombia farmers fail to deliver appeared first on Reuters News Agency.