Source Pravda.Ru

Association Of Coffee-Producing Countries Has Announced Self-Dissolution

The Association of Coffee-Producing Countries providing for 70% of the world market coffee beans has announced self-dissolution from January, 2002, according to the Russian Tea and Coffee Producers' Association. Experts say that this decision is caused by the fact that the coffee-producing countries have been unable to work out a mechanism of control over coffee prices. Last Monday prices in the world coffee market dropped to the lowest level for the past 30 years. While demand has been reducing, many bean-producing countries have proved unable to pay the membership fee. The main task of the Association of Coffee-Producing Countries, set up in London eight years ago, is to control prices in the world market by increasing or reducing the volume of production.

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