Project approves agreement on international coffee market

Published Feb 12, 2025

Tridge summary

The article highlights the introduction of the International Coffee Agreement of 2022, embodied in Legislative Decree Project 266/23, proposed by Brazil and currently under review in the Chamber of Deputies. This agreement, the eighth of its kind by the International Coffee Organization (ICO), aims to update the entity's structure and voting mechanisms, enhancing representation and influence, particularly for Brazil. The agreement also introduces the participation of private and civil sector entities, as well as provisions for member countries' contributions and the establishment of a working group to bolster coffee cultivation. After positive reports from various committees, the proposal is now awaiting approval in the Chamber of Deputies, marking a potential milestone in international coffee market regulations.

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Original content

Legislative Decree Project (PDL) 266/23 contains the International Coffee Agreement of 2022, signed by Brazil at a meeting of the International Coffee Organization (ICO) in London. The text is currently under analysis in the Chamber of Deputies. Created in 1963, the ICO is the depositary of the agreement. The entity currently brings together countries responsible for 93% of global coffee production and 63% of global consumption. Brazil is the main producer and exporter and the second largest consumer. This agreement is the eighth within the scope of the ICO and, in summary, deals with the objectives and structure of the entity. Since 1994, the organization has acted as a forum for discussion, cooperation and exchange among its members on issues related to coffee. According to the government, with the eighth agreement, a new way of calculating votes for decisions in the ICO will contribute to a more precise participation of each country in the international coffee market, ...

Source: NoticiasAgricolas