This was pointed out by the executive director of the International Coffee Organization (ICO), Roberio Silva, during a meeting with 73 members of the agency in Brazil.

"We hope that some concrete measures will come out of the meeting to help the (coffee) market to better understand the current status of stocks, prices, consumption and export," said Silva.

The "low prices" of coffee are due to, according to Silva, "excess capacity" but according to him, the world coffee market is characterized by a "high degree of volatility and imperfections and asymmetries". The organization is committed to controlling such volatility in prices and avoid creating the conditions for a coffee crisis.

Meanwhile, Fernando Pimentel, the Brazilian Minister of Development, Industry and Commerce, said they are considering whether to import coffee from countries such as Colombia in order to improve their roasting mixtures.

Source: Elconfidencial.com

More on this topic

Nicaraguan Coffee, The Hardest Hit By Rust

February 2014

Of the major producers in the region, Nicaragua was the most affected, having exported 64% less in the first four months of the harvest.

Except for Brazil coffee exports from nine countries in Latin America fell by 8% during the first four months of the harvest which began in October compared with the same period of the previous cycle. Nicaragua was the most affected with a fall of 64 % in sales of the grain.

Drop in Coffee Prices Sharpens

October 2013

The abundant harvests in Brazil and Colombia have pushed down the price of the grain, which could reach less than $100 a quintal.

"This puts Nicaraguan coffee in a difficult position as it has long been the main export product of Nicaragua ..." reported Laprensa.com.ni.

Colombia Plans to Increase Coffee Production

September 2013

Expectations for 2013 are for grain production of 10 million bags weighing 60 kilos each and a further increase is foreseen for 2014 and in the next few years.

This was explained by Juan Esteban Orduz, president of the National Federation of Coffee Growers of Colombia during his participation in Brazil of the gathering celebrating 50 years of the International Coffee Organization (ICO).

ICO: Global Coffee Production to Fall

December 2011

Following a review of the crops in Brazil and Vietnam, the world's largest producers, a decline of 4% in world production is projected.

Other influences include the crisis in Europe, one of the largest buyers of the grain, and flooding in Colombia which has produced crop losses.