In June of this year, the Fair Labelling Organization (FLO) has increased the “minimum” price per pound for fair trade coffees traded worldwide.
FLO sets the minimum price for Fair Trade coffee and, effective this June, increased the price to $1.25/lb. The price increase is the result of extensive field research into the real costs of sustainable coffee production, which indicated that an adjustment was needed. The research phase was followed by a review process through which feedback was provided by representatives of producers, consumers and industry from more than twenty countries around the world.
In addition to this base price for a pound of coffee, a $.10 per pound social premium is given back to the coffee cooperative for community projects like health and education. Also, a $.20 per pound premium is added for organic coffee to cover the higher costs of organic production.
While coffees sold on the international market can be volatile, the Fair Trade price “minimum” offers greater price stability and a sustainable income for farmers.
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