President-elect of Colombia Juan Manuel Santos

6 July 2010

President-elect Juan Manuel Santos reiterates the support of his Government for the International Coffee Organization (ICO): The President-elect of Colombia, Juan Manuel Santos, visited the ICO where he met with the Executive Director of this body, NÚstor Osorio. During their meeting they discussed the global coffee situation, the satisfactory growth in consumption and the problems of various producing countries that have been affected by extreme weather conditions, rising production costs and currency appreciation. Colombia is one of the most affected countries with a production loss of around 30% in the last two years, but is expected to recover in the next harvest. The price level for Colombian coffee is currently around US$2.30 per lb, the highest recorded in 12 years.

President-elect Santos, who represented Colombia at the ICO from 1970 to 1980, recalled the days of intense negotiations that resulted in important benefits for Colombia. He also confirmed his support for the work being done by NÚstor Osorio as Executive Director of the Organization which has 77 Member countries, and highlighted the significant role of the ICO as a global forum for consultations on coffee, defending the interests of producers and cooperation with consumers.

santosvisit.htm Further Information (PDF File)
ICO Indicator prices
(US cents/lb)  08/12/2017
  change
ICO Composite 113.63 +0.1%
Colombian Milds 140.65 -0.3%
Other Milds 136.63 -0.3%
Brazilian Naturals 120.34 0.0%
Robustas 88.23 +0.7%

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