No quick solution for collapse in prices, farmers' incomes

Fri Sep 27, 3:25 PM ET
By BRUCE STANLEY, AP Business Writer

LONDON - Faced with a glut of coffee and a ruinous slide in prices, the International Coffee Organization on Friday announced the first-ever standards to improve the quality of beans that reach market and, it hopes, to boost the incomes of struggling farmers.

The 63-nation organization argued that standards for better quality would help to squeeze out the poorest beans that have flooded the market, driven down prices and contributed to one of the worst crises in the industry's history.

More...