For many years, coffee prices were controlled by the intervention of the Coffee International Organization (CIO), which regulated prices at a relatively stable level above those that would have existed in a non-regulated market. An unmeasured increase in coffee reserves generated a crisis where the economic consensus of the CIO was broken down, and the regulating institutions were dismantled. The prices plummeted in 1989-1993, and after a short stabilization, the crisis was repeated in 1998 (Bartra, Cobo, Meza and Paz, 2002:1). Historically, the ups and ...
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