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An exploration of commodity income stabilization options for coffee farmers - page 3 / 47

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Contents

Acronyms ............................................................................................................................ii Summary .............................................................................................................................1 Introduction........................................................................................................................4

  • 1.

    Coffee farmers’ price risk exposure: An examination..............................................7

    • 1.1

      The volatility of coffee prices.............................................................................8

    • 1.2

      Farmers’ exposure to coffee price risks ..........................................................13

  • 2.

    Price Risk Management in Practice........................................................................19

    • 2.1

      Price risk management markets and instruments .........................................19

    • 2.2

      Experiences with price risk management for coffee farmers........................22

      • 2.2.1

        Brazil ............................................................................................................24

      • 2.2.2

        Colombia......................................................................................................24

      • 2.2.3

        Costa Rica ....................................................................................................24

      • 2.2.4

        Guatemala .................................................................................................... 25

      • 2.2.5

        India .............................................................................................................25

      • 2.2.6

        Mexico..........................................................................................................26

      • 2.2.7

        Nicaragua.....................................................................................................26

      • 2.2.8

        Tanzania.......................................................................................................26

    • 2.3

      Lessons..............................................................................................................27

  • 3.

    Moving Forward: Enhancing access to coffee price risk management markets 28

  • 4.

    Recommendations....................................................................................................33

Annex:

An overview of market-based commodity price risk management

instruments and their uses...............................................................................................36 Literature...........................................................................................................................42

Figures, Charts, Tables and Boxes

Figure 1: Coffee price changes….…………………………………………………………........ 7

Chart 1: Nominal prices for mild Arabica and Robusta coffee, 1985 2006…………...…............. 9 Chart 2: Coffee prices, 2004–2007, as compared to World Bank forecasts…………….............. 11

Table 1: Frequency of month-to-month price changes for mild Arabica and Robusta…….......... 9 Table 2: World Bank forecasts of Arabica and Robusta prices, 2004–2015………………. ....... 10 Table 3: Risks faced by coffee-producing households in the Dominican Republic……….. ....... 14

Box 1: Special marketing arrangements and their impacts on farmers’ risk exposure…….......... 12 Box 2: Cooperatives’ price risk exposure............................................................................. ................. 17 Box 3: India’s e-choupals: How technology can help cross the “last mile”..……………… ....... 30

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