Good news, finally coffee prices are starting to fall. Consumers of Jamaica Blue Mountain Coffee will see a 10% reduction in the price going forward. Of course there is one proviso: That weather conditions will remain. Specifically the absence of hurricanes, and there’s one looming in the Caribbean Basin as I text. It seems hard to believe that right now it’s a buyer’s market when just a year-and-a-half ago farmers could get as high as J$13,000 a box of coffee. Now farmers are being offered $6,000 a box. Naturally most farmers do not want to sell but they’re caught in a dilemma because if they don’t sell now the ripe red coffee cherries will rot and die. There’s only one processor that is buying now and that’s Mavis Bank coffee. As a result Farmers have been protesting. They do not want to sell their beans for half its worth.
Buy now before end of September, and get a 10% discount as Paypal partial refund.
Industry players are again contemplating sending green or unroasted beans to China in an effort to offset reduced demand in Japan, the largest buying market for Jamaica Blue Mountain (JBM) coffee.
The source indicates that its a real possibility despite concerns about the Chinese market and the potential for unauthorised blending of beans.
“We have to try something,” added the source.
In 2011, the Coffee Industry of Jamaica (CIB) sent its first shipment of green beans to China. The CIB sent representatives to live in the country in order to streamline the supply chain. The deal signed with Zhejiang Dunn’s River Import and Export Company Limited, would handle the commercial transactions of the Hangzhou Coffee and Western Foods. The deal was met with ambivalence from some Japanese buyers who questioned the price at which the beans were sold to China. The deal with the major importer wasn’t continued after the initial two year attempt. But with the softening of the Japanese market the search for new markets are inevitable.As the industry can no longer avoid the world’s second largest economy.