Colombian Proposal to Ditch NY Coffee Price May Send Buyers Elsewhere

Colombian Proposal to Ditch NY Coffee Price May Send Buyers Elsewhere
FILE PHOTO: A coffee grower selects coffee fruits on a canvas in Chinchina, Colombia November 22, 2018. REUTERS/Luisa Gonzalez/File Photo
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NEW YORK/BOGOTA—A proposal by Colombian coffee growers’ federation that producer countries sell their high-quality harvests untethered from the New York market price could encourage buyers to look for alternative providers, importers and exporters said.

The federation in late February said it would discuss a possible unlinking from the New York benchmark price with other producers of high-quality arabica and buyers in an effort to sell coffee above production costs.