ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Little Nationalism Turned Chauvinist

1980. Though this cut could not revive prices, the second cut imposed on December 18 had a tonic effect on coffee prices which quickly went up to over 130 cents. Since the imposition of the second cut, the international coffee prices moved within the limit so as to detract any further cut in the quotas till the third week of January. Naturally, the earlier doubts about the efficacy of the Agreement (based on worldwide surplus in coffee, diminishing demand, and expectations of bountiful Brazilian coffee crop) are fading, and international coffee circles are coming round to the view that the Conggee Agreement has succeeded in creating some sort of bottom for the coffee markets as well as providing the basts for greater equilibrium between world coffee supply and demand. Untfer the new Coffee Agreement, India has been granted an export quota of 66,000 tonnes

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