Colombia is an important supplier of coal to European markets and although Colombian output is small compared to the United States and China, it is a major player in the seaborne coal export trade since those countries consume much of their own production for electricity. After oil, coal is Colombia’s main export. Drummond Co. is Colombia’s No.2 coal miner exporting 26 million tons of coal in 2012, about one-third of the national total.
In 2012, Colombian coffee prices fell 35% on the international market while the Colombian peso appreciated 10%. A combination of crop disease, bad weather, and unfavorable currency rates forced growers in Colombia to sell their coffee at a loss. Many coffee growers then found themselves spending more on fertilizers and supplies than what they were making for their coffee.