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. Last Updated: 07/27/2016

Coffee Export Fears

LONDON () -- Coffee producing nations led by Brazil began talks in London on Monday to discuss whether to suspend their export quotas in an attempt to cool an explosive rally in world prices.

Some of the 14 members of the Association of Coffee Producing Countries worry that soaring prices -- one U.S. futures contract hit a 20-year high last week -- may erode demand for the beverage as people drink tea or soft drinks instead.

"It is not logical to keep the quota system right now," said Costa Rica's chief delegate, Ricardo Seevers.