Representatives from coffee producing countries throughout the world met in London today (Monday) for the opening of the International Coffee Conference.
REPRESENTATIVES AT FIRST DAY OF CONFERENCE.
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Background: Representatives from coffee producing countries throughout the world met in London today (Monday) for the opening of the International Coffee Conference.
The decision to convene the meeting was taken by the Board of Directors of the Diversification Fund during their conference in April.
The fund was established under the provisions of the 1968 International Coffee Agreement. Twenty nine member countries which export more than 100,000 bags of coffee annually are compulsory participants in the fund, contribution an amount equivalent to 60 U.S. cents for each bag over 100,000 exported.
Their aims is to limit the production of coffee in orde4r to bring supply into reasonable balance with world demand. This week's conference will discuss methods of implementing their aims.
The 30 million dollars (U.S.) expected to be raised annually will be used to provide technical and financial facilities to achieve their aims.
Each members plans for the implementation of the organisations objectives will be discussed under the auspices of a small group of independent experts.
The meeting was opened by the chairman of the International Coffee Organisation Mr. B.R. McKenzie.