ICO UNITE PUBLIC AND PRIVATE SECTORS TO SOLVE COFFEE PRICE CRISIS

Last Updated on August 19, 2021 by Nick Baskett

The International Coffee Organization (ICO) gathered the first meeting of the Coffee Public-Private Taskforce on 30 June.

Decision-makers from across the global coffee sector met virtually to discuss action-orientated ways of discussing critical problems in the coffee sector, such as continuing low coffee prices and the impact of COVID-19 on the coffee industry.

José Sette, Executive Director of the ICO at the meeting, stated that only by working together, coffee importing and exporting countries, the public and private sector, civil society, and knowledge-based organisations, can make the coffee industry strong, sustainable and prosperous.

The economic sustainability of the coffee sector is a continuous focus among coffee stakeholders. The ICO said that low coffee prices prevent coffee farmers from covering their production costs and prevent them from a decent livelihood to their families. Moreover, the additional pressure of the COVID-19 pandemic is severely attacking the most vulnerable links of the coffee value chain and further bringing down coffee prices.

The global meeting included more than 100 top experts and engaged over 3000 coffee stakeholders through the ICO-led sector-wide structured discussion. The ICO then provided the space for coffee industry leaders and vital supporting institutions to declare their commitment to address the coffee price crisis’s root causes and improve the long-term sustainability of the coffee industry.

The Coffee Public-Private Task Forces will help members improve the coffee industry’s sustainability, find consensus, understand differences, and find common ground. The ICO will proceed to support the global coffee industry so that all coffee stakeholders can live well and earn a decent living while contributing to a sustainable and fair sector.

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