Amadeusz Juskowiak

Coffee quota talks continue no accord seen likely

The International Coffee Organization ICO council talks on reintroducing export quotas continued with an extended session lasting late into Sunday night but delegates said prospects for an accord between producers and consumers were diminishing by the minute

The special meeting called to stop the prolonged slide in coffee prices was likely to adjourn sometime tonight without agreement delegates said

The council is expected to agree to reconvene either within the next six weeks or in September they said

The talks foundered on Sunday afternoon when it became apparent consumers and producers could not compromise on the formula for calculating any future quota system delegates said

Coffee export quotas were suspended a year ago when prices soared in response to a drought which cut Brazils crop by nearly twothirds Brazil is the worlds largest coffee producer and exporter

REUTER