Ivorian 2010 Indicative Robusta Coffee Price XOF525/kg

Ivory Coast has set the indicative farmgate price for green robusta coffee beans for 2010 at 525 CFA francs ($1.089) a kilogram, the same as the past two seasons, the CGFCC Coffee and Cocoa Management Committee said Monday.

In 2009 exports of robusta coffee beans rose by 31% to 89,590 metric tons, from 68,525 tons in 2008, according to port data. NYSE Liffe March robusta coffee futures are trading at about $1,282/ton, down about 19% on the year.

The minimum indicative farmgate price is given to help farmers negotiate with buyers, but has no legal or financial support.

Coffee farmers in Ivory Coast say farmgate prices are around XOF275/kg, with many farmers considering replanting their fields with rubber or cocoa, which are enjoying some of the highest prices in 30 years.

NYSE Liffe March cocoa futures are trading at about $2,304/ton, up 20% on the year, and near the record highs hit during the commodity boom in the late 1970s. Ivory Coast produces about 2% of annual global coffee output and is also the world’s largest cocoa producer.

Source : News.Tradingcharts