The withdrawal of the United States from the International Coffee Agreement (2007) has forced the International Coffee Organization (ICO) to reorganize due to a funding gap.
ICO, based in London and with a staff of 25, is funded by member governments in proportion to their import and export totals. Key contributors on the export side include Brazil, Vietnam, and Colombia. The US is the largest of seven coffee importing members and contributed the largest sum, the European Union is second.
Following the June 3 withdrawal date, ICO’s finance and administration committee re-assessed the budget. In a statement, ICO said 2018 “will be a year of transition” during which the organization will try to continue providing essential services. Several member countries have increased their contribution to reducing the shortfall.
The US did not disclose its reason for withdrawing nor its annual contribution. The US was a founding member of the original 1963 coffee agreement.