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News
October 18, 2016

Samuda welcomes increase in coffee prices

KINGSTON, Jamaica — Minister of Industry, Commerce, Agriculture and Fisheries Karl Samuda has welcomed news of an increase in the price per box of coffee.

According to a release from the ministry, the Mavis Bank Coffee Factory Limited announced that, effective yesterday, farmers will be paid $9000 per box of cherry coffee.

“The farmers will receive a first payment of $8000 per box followed by a final payment of $1000 for each box. Prior to the increase, the farmers were paid $8000 for each box of coffee,” the ministry said.

Managing Director and Chief Executive Officer of the Mavis Bank Coffee Factory, Norman Grant explained the company is still in negotiations with Japanese importers about the price of this year’s crop. However, he said the increase in the price paid to farmers is due to improvements in the quality of coffee this year.

The increased price will be paid by Mavis Bank and Wallenford Coffee Company, which together purchase most of the Blue Mountain Coffee crop.

Samuda said he is pleased that farmers are being compensated for their efforts to improve this year’s crop. He also commended Mavis Bank for raising the price paid to farmers before concluding their negotiations with Japanese importers.

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