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Coffee prices 1973–2022. According to the Composite Index of the London-based coffee export country group International Coffee Organization the monthly coffee price averages in international trade had been well above 1000 US cent/lb during the 1920s and 1980s, but then declined during the late 1990s reaching a minimum in September 2001 of just 417 US cent per lb and stayed low until 2004.
From 1967 to 1980, the Colombian economy, and particularly the coffee industry, experienced sustained growth. Because of severe weather problems affecting the world's largest exporter, Brazil, coffee prices reached unprecedented levels in the mid-1970s. High prices prompted an important expansion in coffee production in Colombia.
As a result, Colombia is seeing a historic building boom. The Colombian government is investing heavily in transport infrastructure through a plan called "Fourth Generation Network". The target of the Colombian government is to build 7,000 km of roads for the 2016–2020 period and reduce travel times by 30% and transport costs by 20%.
The Colombian coffee industry began to operate as a powerful engine for the development of the nation's economy. [8] In 1879, the Colombian Congress passed the Coffee Act, known as the Law 29, by which the government would foment and sponsor the growing of coffee in the provinces better qualified for it, according to climate and terroir.
While a 2011 New York Times article claimed that regional climate change associated with global warming had caused Colombian coffee production to decline from 12 million 132-pound bags, the standard measure, to 9 million bags between 2006 - 2010, with average temperatures rising 1 degree Celsius between 1980 and 2010, and average precipitation ...
A trader wears a hat in support of Republican Donald Trump at the New York Stock Exchange (NYSE) in New York City, on Nov. 6, 2024. REUTERS/Andrew Kelly/File Photo (Reuters / Reuters)
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3579 S High St, Columbus, OH · Directions · (614) 409-0683