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Bangalore, May 28: : The International Coffee Organisation (ICO) would make a presentation before the leaders of G-8 summit on the plight of nearly 125 million people affected by the steep fall in coffee prices.
The presentation will be based on the conclusions reached at a high-level round-table on coffee crisis organised jointly by the World Bank and the ICO in London on May 19.
The G-8 summit will be held in the first week of June in Evian in France. French President Chirac, the host country for the G-8 summit, had promised to raise the issue of commodity prices with fellow leaders of the world’s rich nations during the summit.
Though the round-table in London has not succeeded in hammering out any dramatic package for reviving coffee prices, it has called upon the United States to rejoin ICO and asked the rich nations to share the burden of the crisis afflicting people in coffee producing countries. The United States withdrew from ICO in 1989.
In a joint statement with ICO after the round-table, World Bank director, agriculture and rural department, Kevin Cleaver said “there is no simple solution, there is no silver bullet”.
But the round-table attended by over 250 delegates from all coffee growing and major coffee consuming countries felt that a “long term solution” to the crisis is linked with “an integral strategy for the agricultural and rural sector”.
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