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COMING UP:Share Opener Variant 3

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Transcript

00:00:01
>> The coffee bean industry has supported families in the highlands of Ethiopia for generations. But the amount farmers here get for a kilogram of beans, has fallen a third to just 29 cents. Or less than a cent a cup as global coffee prices has slumped to their lowest level in nearly 13 years.
00:00:20
>> The price of coffee has certainly gone down. However, we cannot stop growing coffee. We're not going to be lazy. Even the price of gold fluctuates on the international market.>> Unlike the producers of other commodities though, coffee farmers suffer from being at the wrong end of the value chain.
00:00:39
They receive only a fraction of the retail price of their crop, forcing some to consider selling something else.>> When we take coffee to market, the return doesn't match our input to it. The farmers are really complaining about it because they put in a lot of effort during the cultivation.
00:00:56
>> Ethiopian farmers export most of their coffee in bulk as green, unroasted beans. It's the processes that follow that add the greatest value and usually take place in the countries that consume the coffee. Although some Western cooperatives are encouraging farmers in Africa to begin roasting their own. At the other end of the chain, coffee has never been hotter.
00:01:17
Western millennials who grew up with Starbucks have fueled a boom in coffee shops. And recent innovations from cold brew to nitrogen coffee. The industry has seen a wave of acquisitions as companies like Nestle and Coca-Cola spend billions to boost their market share. The latest slide in prices is mainly down to a bumper crop in Brazil, the world's biggest producer.
00:01:38
That hit the price of arabica beans traded in New York, and it didn't take long for the fluctuations to feed through, impacting these farmers thousands of miles away.