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Tuesday, May 28, 2002

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ICO blueprint to end coffee crisis

Our Bureau

MUMBAI, May 27

A SERIES of initiatives in the form of international cooperation through the International Coffee Organisation (ICO) are in the offing in response to the serious crisis the global coffee sector is currently passing through.

In a meeting of the International Coffee Council held in London last week, member-governments noted with concern the devastating economic and social impact of the current crisis caused by low prices received by coffee producers, which in real terms are at their lowest in 100 years.

Diversification, increasing consumption, increasing role of the private sector and international convention on sustainable coffee are some of the key areas on which ICO will work.Following the World Coffee conference held in May last year, several recommendations have flowed. These relate to quality standards, production policies, financing for marketing regulation, promotion of consumption etc.

However, the greatest priority should be given to actions relating to supply and demand, in order to fulfil the objective of International Coffee Agreement so as to achieve a reasonable balance between world supply and demand of coffee, the World Coffee Conference Programme Committee recommended.

In order to achieve this, ICO, among other measures, may encourage members to adopt responsible production policies and seek to ensure that international community does not grant credits that will increase the area under coffee.

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ICO blueprint to end coffee crisis

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