THE COFFEE INDUSTRY Corporation expects PNG to export $250 million worth of coffee this year due to a bumper crop and soaring prices.
The corporation says the coffee price of $2.60 per pound is double last year’s price due to poor weather conditions in Colombia and Central America.
Chief executive, Navi Anis, says favourable conditions in PNG should result in the production of more than 60,000 tonnes.
Mr Anis says the large crop has put pressure on processors, and high prices have increased costs for exporters.
But he says the coffee industry is in a strong position overall.
“The mood industry-wide is positive and I think people are looking forward to what currently is happening, that the prices will continue to hold and if the production comes up good then everybody should be positive.”
Navi Anis says the 2.5 million people who rely on coffee earnings will benefit.
Source: Radio New Zealand International