• The Brazilian government agency CONAB has released its 2nd estimate for the 2008/09 crop, which amounts to 45.5 million bags. Arabica production is forecast to reach 34.7 million bags and Robusta production should reach 40.8 million bags.   Further information
  
  
• World coffee exports totalled 8.72 million bags in March 2008, compared with the volume of 9.23 million bags recorded in March last year.  Exports in the first six months of coffee year 2007/08 (Oct‑07 to Mar‑08) were down by nearly 5% to 46.41 million bags compared to 48.82 million bags in the same period last year.  Arabica exports in the 12 months from Apr–07 to Mar‑08 amounted to 62.78 million bags compared to 62.84 million bags, whereas Robusta exports amounted to 32.41 million bags compared to 32.96 million bags.  See Monthly Trade Statistics
  
  
• The ICO Executive Director, Mr Néstor Osorio and the Managing Director of the Common Fund for Commodities, H.E. Mr Ali Mchumo visited Côte d’Ivoire from 16  to 20 April 2008 for the launch of the CFC/ICO project “Access to finance for the development of diversification crops in coffee producing areas – Burundi and Côte d’Ivoire”. The project was launched on 18 April at an inauguration workshop in Abidjan in the presence of Mme Simone Gbagbo, First Lady of Côte d’Ivoire. It has a total value of US$3,006,570 and seeks to finance the development of diversification crops to reduce risks from fluctuations in prices, to increase incomes of small coffee farmers and to reduce poverty in coffee producing areas. The Fonds de Garantie des Coopératives Café-Cacao (FGCCC), headed by Mr Jean-Claude Bayou, Managing Director, has been appointed as the Project Executing Agency and will oversee the implementation of project activities. More
  
  

• Arabica coffee prices were subject to downward adjustments during the month of March. Robusta prices were up by 5.6% compared to their February levels, reflecting some uncertainty regarding supplies from Robusta exporting countries. The differential between Other Mild Arabicas and Robustas was reduced by more than 33%, falling from 41.84 US cents per lb in February to 27.97 US cents per lb in March. Prices also recorded marked volatility, with the monthly average of the ICO composite indicator price down from 152.85 US cents per lb on 3 March to 122.93 US cents per lb on 31 March. See coffee market report March 2008

• The Executive Director, Mr Néstor Osorio, attended the Conference “Coffee Outlook” organized by the Institute of Policy and Strategy for Agriculture and Rural Development of the Ministry of Agriculture of Vietnam on 26 and 27 March 2008 in Hanoi.  In addition to a large group of Vietnamese coffee producers and representatives of the industry, the Conference was attended by numerous delegates from different countries.  Mr Osorio made a presentation regarding the recent evolution in the main commodity markets with special emphasis on the coffee situation.  He also analysed the way in which Vietnam has developed production and its market share in the world in recent years.  At this occasion he had meetings with the Vice-Minister of Agriculture and Rural Development, Mr Diep Kinh Tan, the General Director of IPSARD, Dr Dang Kim Son, and the new Chairman of the Vietnam Coffee and Cocoa Association (VICOFA), Mr Luong Van Tu.
  

• The Executive Director, Mr. Néstor Osorio, wishes to announce that a Seminar on Geographical Indications for Coffee will be held at the ICO headquarters in London, on the afternoon of Tuesday, 20 May 2008.  Programme
  
  

• The Executive Director, Mr. Néstor Osorio, visited Japan during the week of 10 March 2008. During his mission, he had meetings with high-level government officials, including Mr Sumio Kusaka, Deputy Director-General, Economic Affairs Bureau, Ministry of Foreign Affairs, and Mr Kotsuhiro Machida, Director General of the Food Policy Bureau, Ministry of Agriculture, Forestry and Fisheries, to discuss matters relating to the 2007 Agreement, in particular the transition from the 2001 Agreement to the new Agreement.  He also addressed special meetings of the All Japan Coffee Association and the Speciality Coffee Association of Japan, and made a presentation entitled “The current commodity situation and overview of the coffee market” to the Institute of Agricultural Policy at the invitation of the Ministry of Agriculture.  While in Tokyo, Mr. Osorio met the Chairman of the Tokyo Grain Exchange, Mr Yoshiaki Watanabe, and attended the opening ceremony of Foodex Japan 2008, the 33rd International Food and Beverage Exhibition, where he visited delegates at the Brazilian and Colombian coffee exhibition stands.  Finally, he  was the guest speaker at a lunch for Latin American Ambassadors hosted by the Colombian Ambassador, and visited the Coffee Museum in Kobe and the coffee roasting plant of UCC Ueshima Coffee Co. Ltd. at the invitation of Mr Tatsushi Ueshima.

  
  
• Meeting of International Commodity Bodies: The ICO Head of Operations, José Sette, attended the 15^th meeting of the Common Fund for Commodities (CFC) and International Commodity Bodies (ICBs) held in Madrid on 13 March 2008.  The CFC Managing Director outlined developments in CFC strategy, which will include partnership with the EC action plan on commodities, and increased collaboration with private donors.  The CFC Secretariat also reported on follow-up on the third CFC five-year action plan (2008 – 2012).  Mr. Sette took the opportunity to inform representatives about new features of the 2007 Agreement. The ICO is the largest recipient of funding from the CFC, which has contributed US$45 million towards 29 coffee development projects with a total value of US$84 million.   
  
  
• National Coffee Association of USA: The Executive Director attended the 97th Annual Convention of the National Coffee Association of USA (NCA) which took place in Florida from 6 to 8 March 2008.  During his visit he was invited to attend a meeting of the Board of Directors of the NCA and took the opportunity to discuss developments in the coffee market situation.
  
  

• First signature of International Coffee Agreement 2007: The Ambassador for the Yemen, H.E. Mr. Mohamed Taha Mustafa, signed the 2007 Agreement at the ICO headquarters in London on 27 February 2008.  Yemen is the first country to sign the Agreement, and will now take steps to deposit an instrument of ratification, acceptance or approval by the deadline of 30 September 2008.  Yemen is a coffee producing country with average annual production estimated at around 250,000 60-kg bags. Photo I  Depositary notification

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