ICO and World Bank Address Coffee Crisis

LONDON, April 28, 2003—The International Coffee Organization (ICO) and the World Bank today announced that a high-level round-table on the international coffee crisis will be held at the ICO headquarters in London, on Monday, 19 May 2003.
The round-table, International Coffee Crisis – Looking for Long-Term Solutions, will bring together producers from developing countries, government officials, experts from international organizations, advocacy groups, and industry representatives to discuss alternatives such as diversification, quality, added value, and market development in order to help coffee producers increase their income and improve living standards.

Coffee prices are currently at their lowest levels in 30 years (the ICO composite indicator stood at 49.65 US cents/lb on 14 April 2003), and in 100 years in real terms. In almost all coffee producing countries, such prices are unable to cover production costs and have led to serious social and economic problems, including increased poverty, indebtedness, and abandonment of coffee farms.

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