ICO COFFEE PRODUCERS TO DISCUSS MARKET SITUATION
International Coffee Organization, ICO,
producers will meet at 1500 GMT (0900 est) for a general
discussion of the market situation, producer spokesman
Lindenberg Sette said.
    The Brazilian delegate said several producers requested the
meeting but Brazil was not among them. The ICO executive
board's regular session this week has so far been confined to
routine matters, with no attempt by producers or consumers to
revive export quota negotiations, delegates said.
    Talks to restore quotas collapsed early last month when
producers and consumers failed to resolve differences on how
quotas should be allocated.
    Producer delegates said there was no sense of urgency among
producers to reopen quota talks with consumers, with most
countries now prepared to wait for the ICO's annual September
council session to restart negotiations.
    Members of the Inter-African Coffee Organization called for
today's producer meeting to exchange views on the market
situation, the producer delegates said.
    The lack of a new debate on export quotas here this week
was cited as the reason for renewed weakness in coffee prices
in London and New York futures, traders said.
    Near May in London hit a five-year low this morning at
1,220 stg, about 50 stg below last night's close, they said.
    The executive board session looks set to end today,
following a final session at 1600 GMT (1000 est) when a
consultancy report of the operation of the ICO will be
presented to producers and consumers, delegates added.
 Reuter
