Economy & Business - September 2004

COFFEE: The US formally announced that it intended to rejoin the International Coffee Organization at a special event convened by the US State Department on 15 September. Among the senior US officials attending the event were James Murphy, the Assistant Trade Representative for agriculture and the Assistant Secretary of State for Economic and Business Affairs, Anthony Wayne. The executive director of the ICO, Néstor Osorio, said that the US decision showed the government's commitment to supporting multilateral cooperation. He said that the US decision will promote sustainability in the coffee industry. The US is the world's largest consumer of coffee and its decision to leave the ICO in 1992 led to an end of the system of coffee quotas and to price volatility.

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