"For much of 2019, prices on the New York exchange hovered around $1 per lb., sending farmers' incomes below the cost of production.

Prices remain a worry despite recent increases and a weak peso, which helps growers earn more off of exports."

"With a market at $1.15 and the premium for Colombia coffee at 30 to 32 cents, we're talking about $1.47, almost $1.50. Those are the levels that Colombian growers need to move forward," he said.

The price for a 125-kg shipment was 960,000 pesos (about $277) on Tuesday, well above estimated production costs of 780,000 pesos. The New York exchange closed at $1.16 per lb.

The productivity of the Colombian crop is at its highest-ever, Velez said, with an output of some 20.5 60-kg bags per hectare. But that is well below rates in Brazil and Vietnam, the world's top two growers, which produce 30 and 38 bags per hectare respectively.

Would it be possible to say that colombian coffe industry is a profitable firm with an optimistic outlook for the near future ?

What would be the implicit, explicit, variable and fixed costs?