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Fair Trade Trade Fair
Recently Fair Trade company Cafédirect and Fairtrade coffee trader Twin invited buyers from other coffee companies to meet coffee exporters from around the world. The trade fair, which took place in London, has been established to introduce representatives from coffee producer organizations to new markets and to give them direct access to other Fairtrade and non-Fairtrade buyers. It was organized as part of Cafédirect’s Gold Standard initiative, which promises to help grower organizations develop their businesses. The prime motive was to create direct relationships between the grower representatives and new buyers. Buyers attending the fair met coffee grower representatives from co-operatives based all around the coffee-producing world.

Penny Newman, managing director, Cafédirect comments: “We are proud of the excellent quality delivered by the coffee growers and we are delighted to be able to highlight their products in this innovative way. This trade fair is further proof that we work for the best interest of our producer partners.”

The mini trade fair is part of a week of activity planned as part of the Producer Conference where tea and coffee producer organizations supplying Cafédirect and Twin gather every two years to strategically plan together their work for the following years.

Hencorp Crosses the Atlantic
Hencorp Becstone Futures L C , a Miami, Florida-based futures brokering company, will now have three employees who will be operating in London with the aim of giving better service to Hencorp’s global commodities clientele.

Under the direction of Charles Baker, they will be located in the offices of Refco Overseas Limited, which is regulated by the Securities & Futures Authority Limited.

Baker has over 25 years of experience in futures brokering beginning with ACLI Commodities but latterly with Rudolf Wolff and Enron. He will be joined by Frank Speight who also has many years’ experience in the futures markets, especially in sugar, and was a colleague at Rudolf Wolff and Enron. James Warringer, will be the third member of the initial team.

“Hencorp is a well-known futures brokering company in the coffee trade and their knowledge will be complemented by our service in Europe,” said Baker. “Their knowledge of, and considerable experience in, the New York ‘C’ coffee & sugar markets will be an asset to our clients.”

Miko Increases Turnover
Miko, coffee service and plastic packagings provider, listed on the Euronext stockmarket, reached a turnover of EUR 32.12 million over the first half of the year. This is an increase in turnover by 6.5% compared to the same period last year. Approximately 61% of the turnover went abroad. The coffee service activities represented 72% of the group turnover, whereas the remaining 28% was for the plastics packaging division. The coffee service grew, in spite of decreasing coffee prices, by 12% of which 5% was acheived through external acquisitions (Lava Drinks - Holland). The turnover of the plastic packagings division on the other hang dropped by 5.5%. This was due to the crisis in the meat industry (foot-and-mouth disease) and to the bad weather in spring causing the consumption of ice cream falling behind considerably. The results are in line with the expectations.

The core activities of the Miko group concentrate around two central axes: coffee service and the processing of plastic packaging materials. The plastics division is an entirely independent entity, realizing more than 92% of its turnover outside the group.

Thanks a Million to Intercommercial
InterCommercial Markets Corp., a web-based trading provider, said volume on its site (www.intercommercial.com) has reached over one million 60-kg bags of green coffee.

InterCommercial’s milestone is notable because at least two competing sites launched over a year ago have transacted only negligible business, according to trade sources.

“We think that our increasing trading volume and membership confirms the widespread interest in exchanging physical trading data electronically,” CEO and President Ted Heilman said.

Even with coffee prices near record lows in New York and London, the coffee traded on this web site has an approximate market value of more than $65 million and equals one percent of the world’s annual consumption of the bean. The web site was launched in mid-May and has registered more than 330 users from 250 companies in 38 countries.

InterCommercial was founded in 1999 by commodity executives and is privately held. Financial backers include major coffee merchants, Swiss-based Volcafe Ltd., Mercon Coffee Corp. in New Jersey and the National Federation of Coffee Growers of Colombia.

InterCommercial also has agreements with major coffee roasters, Kraft Foods Inc (NYSE:KFT - news), an unit of Phillip Morris Companies NYSE:MO - news), and Procter & Gamble Co. (NYSE:PG - news) under which they use the InterCommercial platform to buy green coffee.

Tea & Coffee - October/November 2001
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