2021 mark our commitment to exercise ethically sourced coffee rpractise by present Arkib Transparency report to public. Our goal to establish transparent transaction that happening between coffee producer and coffee roaster. This allows our customer to get insight on how Arkib as a specialty coffee roaster conduct our role as coffee buyer. It is one of our effort to initiate conversation on why we encourage customer to pay more for specialty coffee.
The current market price is less than the production cost, in some cases coffee producer struggle to make ends meet. The commodity market price in 2020 was under 1.1 usd/lb and increased to 1.6 usd/lb FOB in 2021. It still under from actual cost to produce excellent coffee that required lots investment of manpower, facility and technology. Today price has become extremely challenging to produce sustainable high quality with commodity price.
At Arkib, we believe in ethically sourced specialty coffee where excellent coffee come in package of quality, sustainability and transparency. We believe coffee can become a source of wealth when all parties involved working toward a good cause for better future.