Colombia has launched a Coffee Price Stabilization Fund (FEPC) in order to ensure that Colombian coffee growers are protected from the international price.
An inaugural session of the National Committee of the FECP took place in February 2020, including the country’s ministers of finance and public credit, agriculture and rural development, commerce, industry and tourism, and the director of national planning, in addition to union representatives.
At the meeting they approved regulations relating to the fund, the operation of its governing body and the functions of a technical secretariat.
The price protection instrument will start with a budget of US$64 million.
Other sources of financing contemplated include contributions from third-party industry actors interested in the sustainability of Colombian coffee farming.
[photo: Neil Palmer, CIAT]