The article is about the declining market of Coffee Beans. The article, written by Oxfam International, describes the different problems that coffee bean producers and countries now face as the price of coffee beans is declining drastically. The general consensus shows that besides large coffee companies, private growers and farmers of coffee beans, due to lack of technology, power and information, have sold their beans for such low prices, that even sometimes they sell their beans for less than the cost needed to produce them. This destroys the livelihood of many farmers. The study also shows that currently, there is a far greater amount of beans produced than consumed, and in the end, the coffee market will collapse altogether. I personally feel that the current market status and stability of coffee is legitimate and correct. According to the study, prices have begun to fall because there is no longer any government regulation and that it is a free market. The authors feel that should be governmental regulation and control to improve the quality of coffee and limit the amount that suppliers and produce. I feel that this is completely incorrect. The world economy prides itself on free markets.
It is only when the markets are completely free and unregulated can innovation and buyer choice take precedence over supplier power; and, in the end, there are definitely more buyers than producers. Thus, buyer’s priority should take president over the supplier’s problems. Buyer’s should have the choice to decide which coffee they wish to buy, and if they want to spend very little to buy it, it is good for them. The buyer’s should not have to suffer due to the innovation and efficiency of the producer market.
Another argument brought up by the study is that new technology and new methods are decreasing the quality of coffee beans produced. However, I