Economy October 10, 2019 | 3:58 pm

Coffee pumps US$96M into Dominican economy but 10K ton deficit weighs

Barahona, Dominican Republic.- The coffee component in agroforestry projects will contribute RD$4.8 billion (US$96 million) to the Dominican economy annually, Agriculture Minister, Osmar Benítez said Thurs.

Speaking at Barahona Technological University (UCATEBA) the official said that thousands of hectares have been cultivated with the grain through projects aimed at controlling the effects of global warming.

He said the country consumes 34,000 tons every year and is only producing 14,000, a situation he affirms will change with the government projects. “In other words, we have space to produce 20,000 tons to be sold in the local market, “at better prices than the stock market, where the price is at 98 dollars per 100 pounds and here at US$170.”