30 Aug 2006

PNG happy world coffee prices soar to new 7 year highs

10:13 am on 30 August 2006


Papua New Guinea coffee growers are welcoming news that world coffee prices have reached their highest levels in seven years.

The price of coffee remains volatile owing to stretched global supplies.

Prices are surging on the back of lower exports from Vietnam - the world's second-biggest coffee producer - where heavy rain has disrupted harvests, and reports of damage to Italy's crop.

PNG growers say this should be an ideal opportunity for local growers and exporters to cash in on the commodity crop.

But, growers told the Post Courier newspaper the government needs to improve the state of the roads in order to take full advantage of the global demand.