Mavis Bank Coffee Factory pays J$50m to farmers
Published:Monday | February 27, 2012 | 12:00 AM
Mavis Bank Coffee Factory Limited has declared a final price of J$3,091 per box of coffee for the 2011/12 crop, according to Norman Grant, the company’s managing director and chief executive officer.
The price include the Coffee Industry Board (CIB) cherry production cess of J$91.00 per box, first payment of J$2,000 per box, and final payment of J$1,000 per box.
The company said that by yesterday, February 24, it would pay a total of J$50 million to 6,000 farmers for the delivery of about 52,000 boxes of coffee during the period August 1 to December 31, 2011.
In a statement, Grant said “the payment of J$3,091 per box is 20 per cent more than the J$2,500 per box paid for the crop in 2010/11, and the $50 million payout to the farmers is after deducting the costs of fertilizer and other inputs supplied to the farmers, estimated at $5 million.”
The company said it would continue to provide farmers who supply coffee to the Mavis Bank Factory with fertilizer, and would recover the costs from supplies for the period January to July 2012.
“Our decision to pay the farmers as early as we have now done, and to continue to provide inputs to farmers supplying cherry coffee to the Mavis Bank Coffee Factory Limited, underpins … (the company’s) commitment to our farmers and the restoration of the glory days of Jamaica Blue Mountain coffee over time,” Grant said.
According to the Mavis Bank CEO, the CIB’s projection of 140,000 boxes of the Jamaica Blue Mountain brand for the 2011/12 crop is the lowest production target in 20 years outside the periods where the crop was affected by a hurricane.
As such, he said, Mavis Bank Coffee Factory “is committed to the building of a long term relationship with our farmers for the rebuilding of production levels.”
Farmers paid are Jamaica Blue Mountain Coffee producers in St. Thomas, St. Andrew and Portland.
Mavis Bank Coffee Factory remained the largest processor and exporter of Jamaica Blue Mountain Coffee, handling about 50 per cent of the crop and market.
It is the only processor that purchases cherry berry from farmers throughout the crop year.
The company continues to supply green coffee beans to Japan, the United States, Europe and China.
It supplies value added products under its Jablum Brand globally, with major focus on the hotel and supermarket trade locally, cruise shipping industry and Caribbean markets.
Mavis Bank Coffee Factory was recently acquired by Jamaica Producers Group and Pan Jamaica Investment Trust Limited.