May 19, 2001 |
It would seem to defy capitalist logic. The international price of coffee beans has plunged 60% in three years to about 50 cents a pound, the lowest level in decades. Yet java drinkers are paying more per cup, as much as $3 for a latte grande in New York or $5 a cup at London's Hilton Hotel, where the first World Coffee Conference is meeting. Coffee lovers are spending more, coffee farmers are getting less. How can that be?
July 5, 1993 |
Latin Americans Try to Raise Coffee Prices: Brazil, Colombia and Central American nations agreed to retain 20% of their coffee exports from Oct. 1 to lift world prices, officials said. Brazil's proposal for 20% retention was accepted at a meeting of top Latin American coffee officials after Colombia agreed to change its previous offer of simply limiting its exports to 13 million 120-pound sacks.
December 1, 1989 |
Three days of informal talks between coffee producers this week ended with no promise of new world coffee negotiations and no agreement--except to let the free market continue to rule. "The positions are still the same as they were in July," James Wapakabhulo, chairman of the International Coffee Organization executive council, told a news conference when the talks ended.
November 14, 1988 |
Survival of the international coffee agreement, one of the few commodity price-support pacts that still works, will be at stake as consumers and producers start talks in London today. Delegates say the 50 producer and 24 consuming member nations of the International Coffee Organization (ICO) must resolve major differences if the agreement is to be renewed beyond its expiration date next September.