Fairtrade Increases Coffee Minimum Price As Farmers Face Mounting Economic and Climate Pressures
Fairtrade will raise its Minimum Price for coffee in an effort to strengthen protections for coffee farmers around the world amid the intensifying impacts of climate change and growing global economic volatility, for contracts signed as of 1 August 2023, increasing the baseline price by 19 percent and 29 percent for Fairtrade certified Robusta & Arabica coffee.
This will provide farmers with significant price risk management support in times of wild market fluctuation, and adapt to their needs as they face inflation in their home countries and substantial additional costs due to climate change adaption. The new Fairtrade Minimum Price for washed Arabica beans – which represent more than 80 percent of all Fairtrade coffee sold – is $1.80 per pound, an increase of 40 cents over the previous price of $1.40 per pound. For natural Robusta, the price will increase by 19 cents to $1.20 per pound. The additional value for organic Fairtrade coffee has been increased by a third, from 30 cents to 40 cents per pound. More than half of Fairtrade coffee beans sold in 2021 were also organic certified.