Monday, February 18, 2008

Weak dollar affects flower imports

A recent article in the Houston Chronicle recently highlighted the plight of the Columbian flower industry in the wake of the devaluation of the dollar in the U.S. Since 6 of every 10 flowers sold in the U.S. hails from Columbia, Columbian flower profitability is extremely sensitive to demand impacts caused by the economic slowdown stateside. As a result, the income (in pesos) of Columbian growers has plummeted in spite of their worldwide exports increasing to $1 billion last year. About a dozen large Columbian flower farms have closed in the past 3 years, eliminating about 15,000 jobs. For the complete story, click here.

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