Political decisions can have far-reaching consequences. And the coffee industry in Ecuador is no exception. One such decision that had a significant impact was the introduction of a new currency. The dollar, replacing the traditional currency, the sucre. This sudden change brought challenges and opportunities for the German coffee industry.
- While the dollar brought stability to the economy, it also created a shift in mindset. The farmers used to think in sucres. But, now they have to think in dollars. It's like learning a whole new coffee language!
- However, introducing the dollar made international trade and business transactions more accessible. It ultimately allows Ecuadorian coffee to reach a broader global market.
The Influence of Tradition on Pricing:
Tradition plays a big role in how Ecuadorian coffee is priced. Specialty Coffee farming has been part of the country's culture for a long time, and those traditions still influence the prices.
- In Ecuador, specialty coffee is more than just a product. It represents pride and heritage. Farmers take great care of their coffee beans, growing them with love and attention.
- Coffee farmers work hard in the fields, hand-picking only the ripest cherries to ensure the beans are top quality.
- Some farmers also use organic and sustainable farming methods. This makes the coffee even more valuable and affects the pricing too.