Colombian coffee is one of the most recognized internationally for its flavor and quality, as it is result of the good work that the country’s coffee growers have done throughout historycreating an entire valuable coffee industry that has promoted the consumption of this food and has formed a market that continues to grow.
At the same time, coffee is so popular in the country that there is a tourist coffee hub, where you can see its colonial and colorful towns and the production of coffee in different presentations, which is mostly marketed nationally and internationally. . For that reason, here we tell you what it is the base price set for coffee this Tuesday, June 11, in the country and the recent analysis of experts on the price fluctuation of this product in 2024:
Price of coffee today, June 11, in dollars and Colombian pesos
According to the Report of June 11 on the reference values for the purchase of coffee in Colombia, published by the National Federation of Coffee Growers (FNC), The internal reference price for the purchase of dry parchment coffee per load of 125 kilograms FR 94 is $1,753,000 COP, which is lower than that established during the previous week’s close.
In that sense, the equivalence in American dollarswhich is a currency that is trending upwards, is $445.46. In addition, reference prices for delivery in Almacafé vary depending on the city. These are the prices in Colombian pesos of some of the main territories:
1. Bogota:
- Burden: $1’7542.250 COP.
- Kilo: $14,018 COP.
- At sign: $175,225 COP.
2. Armenia
- Burden: $1,753,500 COP.
- Kilo: $14,028 COP.
- At sign: $175,350 COP.
3. Medellin:
- Burden: $1,752,625 COP.
- Kilo: $14,021 COP.
- At sign: $175,263 COP.
4. Bucaramanga:
- Burden: $1,751,875 COP.
- Kilo: $14,015 COP.
- At sign: $175,188 COP.
5. Cúcuta:
- Burden: $1,751,375 COP.
- Kilo: $14,011 COP.
- At sign: $175,138 COP.
6. Manizales:
- Burden: $1,753,375 COP.
- Kilo: $14,027 COP.
- At sign: $175,338 COP.
7. Santa Marta:
- Burden: $1,755,125 COP.
- Kilo: $14,041 COP.
- At sign: $175,513 COP.
What will happen to the price of coffee in 2024?
According to Juan Felipe Jaimes, agricultural engineer, specialist in coffee quality, Barista of the SCAE, taster and expert teacher of ‘Lavaíve‘, we must consider three scenarios and their consequences in the price of this product this year:
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- Stable and neutral scenario: According to the expert, if there are no significant changes in the price of coffee, it may be because there is a “very smooth” transition between the El Niño and La Niña phenomena; Because this way the crops in Colombia and other producing countries will not be affected. Furthermore, there must be growth and stability in demand as it states that current demand is high.
- Bullish scenario: As Jaimes indicates, after the first quarter of the year, for there to be a scenario with an upward trend in prices, there would have to be a severe La Niña Phenomenon, as well as reactivated consumption and a skyrocketing increase in demand.
- Bearish scenario: In this case, the downward trend in price would occur if there is a mild La Niña Phenomenon and if the Deforestation Law is made strict in Europe, which is one of the continents with the highest consumers, demand will decrease in this area of the world, so producers must design risk management strategies.
In turn, the expert called to be attentive to these market behaviors in order to act in time and correctly carry out the respective strategies in the different scenarios.
