Saturday, May 2, 2009
Summary
According to the legend, Ethiopian goatherd first discovered the coffee. From the simple beginnings of food and beverage for African tribesmen, coffee caused a world-wide phenomenon of huge measurements. Coffee is expensive. It is a major income for many exporting countries. Hence, many people depend it for their livelihood. A lot of people consume it. Almost half of the coffee trees were destroyed by the killing frost in 1975. Frost hit southern Brazil again in June 1979. It takes a long time to replace the loss of a tree. The loss 15 million trees cause a huge income loss. All shipments were stopped by Brazil. Importers bought more of it, fearing the storage. Farmers planted more when the prices rose. Too much coffee causes prices to fall. Therefore, coffee was replaced by the planting of other crops. Producers and consumers agreed to limit the output to what the market can absorb, and a standby reserve, and sell it at a reasonable price of both sides.