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Coffee price increases at international market

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San Salvador, Dec 19 (Prensa Latina) The price of Salvadoran coffee increased in the international market by 6.3 percent compared to October (1.61 dollars per pound) but is still below the figures of 2022.

The Salvadoran Coffee Institute registered that the hundred pounds of the grain (0.1 ton) was sold this year at an average of 234.52 dollars, still below the 242.8 of 2022.

The price of 1.61 dollars per pound is the best in five months, since June 2023 when it was quoted at 1.71 dollars.

In the low price crisis, exacerbated from 2017 to 2020, Salvadoran producers fell into arrears with the banking system and there were documented cases of coffee growers in Santa Ana who preferred to burn the farms to plant more profitable grains, such as corn.

On the other hand, Salvadoran coffee consumption barely increased by 0.6 percent in the 2022-2023 harvest, according to the International Coffee Organization (ICO).

The infusion is one of the most popular beverages worldwide, with a consumption of 130 million bags per year, according to ICO estimates.

Estimates indicate that Salvadorans consume about 350 000 bags of 100 pounds per year, about 15,785 tons.

A research published in 2021 by the extinct Salvadoran Coffee Council (CSC) -now Salvadoran Coffee Institute- revealed that 88 percent of the population drinks coffee and consider the aromatic as part of the basic food basket.

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