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The Impact of the International Coffee Agreement on Producing Company

Author

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  • Akiyama, Takamasa
  • Varangis, Panayotis N

Abstract

Simulations of a global coffee model incorporating a vintage capital approach to production are run. Over the recent period of operation of the International Coffee Agreement's export quota system, the authors find that the quota system had a stabilizing effect on world coffee prices. The quotas reduced real export revenues for most small exporting countries, but large producers gained. Most small countries gained, however, in terms of risk reduction. If a brief suspension of the quota occurs from time to time, caused, for example, by adverse weather which results in a shortfall in world supply, the quota system works like a buffer stock scheme; on average, producing countries as a whole lose transfer benefits but gain risk benefits. Copyright 1990 by Oxford University Press.

Suggested Citation

  • Akiyama, Takamasa & Varangis, Panayotis N, 1990. "The Impact of the International Coffee Agreement on Producing Company," The World Bank Economic Review, World Bank, vol. 4(2), pages 157-173, May.
    • Handle: RePEc:oup:wbecrv:v:4:y:1990:i:2:p:157-73
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    Citations

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    Cited by:

    1. Thibault Fally & James Sayre, 2018. "Commodity Trade Matters," 2018 Meeting Papers 172, Society for Economic Dynamics.
    2. Jenkins, Rhys Owen, 2011. "The "China effect" on commodity prices and Latin American export earnings," Revista CEPAL, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL), April.
    3. Mehta, Aashish & Chavas, Jean-Paul, 2008. "Responding to the coffee crisis: What can we learn from price dynamics?," Journal of Development Economics, Elsevier, vol. 85(1-2), pages 282-311, February.
    4. Rebeca Utrilla-Catalan & Rocío Rodríguez-Rivero & Viviana Narvaez & Virginia Díaz-Barcos & Maria Blanco & Javier Galeano, 2022. "Growing Inequality in the Coffee Global Value Chain: A Complex Network Assessment," Sustainability, MDPI, vol. 14(2), pages 1-27, January.
    5. Naegele, Helene, 2020. "Where does the Fair Trade money go? How much consumers pay extra for Fair Trade coffee and how this value is split along the value chain," World Development, Elsevier, vol. 133(C).
    6. World Bank Group, 2020. "Commodity Markets Outlook, April 2020," World Bank Publications - Books, The World Bank Group, number 33624.
    7. Ponte, Stefano, 2002. "The 'Latte Revolution'? Regulation, Markets and Consumption in the Global Coffee Chain," World Development, Elsevier, vol. 30(7), pages 1099-1122, July.
    8. World Bank Group, 2016. "Commodity Markets Outlook, Ocotober 2016," World Bank Publications, The World Bank, number 25240.
    9. Bosselmann, Aske Skovmand, 6. "Using payments for environmental services to secure environmental services and livelihoods in coffee agroforests – A project portrayal," Scandinavian Forest Economics: Proceedings of the Biennial Meeting of the Scandinavian Society of Forest Economics, Scandinavian Society of Forest Economics, issue 42, April.
    10. Feuerstein, Switgard, 2002. "Do coffee roasters benefit from high prices of green coffee?," International Journal of Industrial Organization, Elsevier, vol. 20(1), pages 89-118, January.
    11. Helene Naegele, 2019. "Where Does the Fairtrade Money Go? How Much Consumers Pay Extra for Fairtrade Coffee and How This Value Is Split along the Value Chain," Discussion Papers of DIW Berlin 1783, DIW Berlin, German Institute for Economic Research.

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