Monday, June 02, 2003

From The Wall Street Journal:
"Congress set aside $500,000 for U.S. to rejoin the International Coffee Organization, which brings together growing and buying nations, but the State Department will let a [June 1] deadline lapse. That vexes lawmakers, leaders of seven Latin American countries, antipoverty groups and industry powers such as Procter & Gamble.

The U.S. left the ICO in 1993, concerned the organization was meddling in markets. The group is seen now as more market-friendly, but State has doubts. Meanwhile, low prices are a 'world-wide calamity' for developing-nation producers, Oxfam America says; backers argue U.S. membership would help lift prices for poor farmers."
*sigh*

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