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Article Excerpt
Falling world coffee production will not boost record low prices now throwing agricultural workers out of work and Central American economies out of kilter. The International Coffee Organization (ICO) in London reported recently that world exports for the first seven months of the current coffee year (October 2001 through September 2002) fell by 4%.
World exports are 49.6 million bags, 2.1 million fewer than for the same period last year, but the decrease will not dent the 20 million bag inventory that consumer nations already have on hand. In addition, Brazil has passed the period during which a freeze could threaten its crop, the world's largest, and is expected to deliver an abundant harvest.
For Central America, these figures have meant prices as low as US$1.03 a kg for their until-recently premier hard- currency earner. The price is a recent bottom in a three-year downward spiral. This season's harvest in Guatemala, for instance, brought in US$172 million for the 4.3 million bags produced, compared to the previous season in which 5.7 million bags earned...
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