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Santo Domingo.- World coffee prices have reached record levels, benefiting Dominican coffee-growing regions amid one of the country's best harvests in years. On November 14, the price of Arabica coffee was $285 per 100 pounds on the New York Stock Exchange, the highest price in a decade. At the local level, industries are paying more than RD$16,000 per quintal of washed coffee, which is a boost for farmers.
The rise in prices is partly due to drought in Brazil, the world's top coffee producer, where adverse weather has reduced yields. As in 2011, when climate change drove up prices, Brazil's production fell, with average yields of 28.8 bags per hectare.
In the Dominican Republic, productivity is recovering after years of decline. While yields once fell to 35 pounds per task, new efforts have increased production to as much as 120 pounds per task in model plantations, promising further growth driven by favorable global market conditions.