The Detroit News. A Jamaican coffee picker cups freshly picked coffee beans in his hands.
Producers plan to reduce the supply of coffee beans in order to pump up prices.
For the coffee drinker, whether the connoisseur with authentic bean grinder or the Nescafe addict at the kitchen table, a golden era may be coming to an end. Countries accounting for three-quarters of world production have signed a price support agreement and others have agreed not to take advantage of the resultant export cuts. Of the 105 million 132-pound bags produced globally each year, Brazil accounts for between 30 million and 40 million, depending on the harvest. The ACPC last month agreed to withhold from the market up to 20 percent of production in order to support the price. ACPC members such as Brazil, Indonesia and Colombia have been joined by sympathetic non-members.