Coffee-bean price in Yunnan hits record high

 Yunnan coffee beans (Online photo subject  to deletion)  

As the coffee future reached a price of 222.95 cents/pound in New York, Nestle offered Yunnan farmers 35 yuan/kg for coffee beans on March 14, both hitting new highs in 10 years.

Nestle has been buying Yunnan coffee beans at prices above 35 yuan/kg for more than one month, with a maximum of 37.6 yuan/kg on February 10.

 Yunnan coffee beans (Online photo subject  to deletion)   

Data shows that the American type C coffee future closed at 238 cents/pound on February 25, another record high in the past 10 years. It is times higher than that of the same day in 2019.

With an annual output of 140,000 tons, Yunnan province produces more than 98% of the coffee beans in China, according to the Yunnan Coffee Industry Association.

 Yunnan coffee (Online photo subject  to deletion)   

Reporting by Yin Lei (Kunming Daily); Trans-editing by Wang Shixue