Bean counters note: coffee at 10-year high

From Bloomberg News
February 29, 2008

The price of coffee surged Thursday, hitting its highest level in a decade, as continuing weakness in the dollar kept many commodity markets in rally mode.

Coffee futures for May delivery rose 3.4 cents, or 2.1%, to $1.675 a pound in New York. Earlier in the day, the beans traded at $1.68, the highest price for a most actively traded contract since February 1998. Coffee is up 41% in the last year.

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IF IT'S BAD KONA, IT MAY BE COUNTERFEIT!

In light of serious questions about the quality of Kona coffee reported by at least one presenter at the recent Coffee Fest In Washington, D.C., Bruce Corker, President of the Kona Coffee Farmers Association, suggests roasters and retailers order supplies of the only U.S.-grown coffee directly from growers in the Kona District on the Big Island of Hawaii.

Counterfeiting of Kona coffee is rife. Its high price and scarcity, and the lack of legal rules for the truth of Kona on labels invite abuse of that name on bags of cheap foreign beans. It has become a commercial plague for reputable wholesalers, growers and retailers of specialty coffee.

Quality in the cup is Kona's main defense against such abuse. To cup real Kona quality and avoid disappointment, roasters and brewers can order green coffee directly from farmers in Kona, most of whom welcome relationships with small coffee retailers.

The Internet makes it easy.
www.konacoffeefarmers.org


Contacts:
Kona Coffee Farmers Association
Bruce Corker, President corkclan@msn.com, 322.9562
Cecelia B Smith, PR/Promotions Chair cbs@smithfarms.com, 328.8060