BOGOTA, Nov 13: Global coffee giant Colombia is studying a plan to boost output by up to 33 per cent over five years to capitalise on solid global demand, the head of the country’s coffee export association said on Tuesday.

The country that brought beans personified by Juan Valdez and his mule Conchita to kitchens around the world, will look at a plan this week to boost output to 16 million 60 kg bags from about 12 million this year.

The idea, proposed last year by the government in a bid to meet rising demand, will be analysed at a meeting of the National Association of Colombian Coffee Exporters, or Asoexport in Cartagena.

The average price of Colombian coffee was $1.32 per pound on Monday, according to the International Coffee Organisation.

Prices for Arabica beans, like the ones Colombia produces, are being sustained in New York amid concerns about a possible drought in Brazil and after a lacklustre crop in the world’s largest producer last year.Lozano said he expects international prices to remain stable over the short term as long as other producing countries do not dramatically increase harvests.

Coffee is Colombia’s third-largest export product after oil and coal. Over a half million Colombian families depend on the business for their livelihoods.

Growers’ profits have been hit by the falling value of the US dollar, which has weakened 8.62 per cent against the Colombian peso this year.—Reuters