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Thursday, April 30, 2009 Y 8:52 PM English summary Vanessa Tan [18] 2E2 According to legend, an Ethiopian goatherd first discovered coffee. Coffee was a simple food and beverage for African tribesmen. Now, it is sold in large quantities worldwide, as one of the top value in trade. All exporting countries depend coffee as the main income and people depend it for their living and drink a lot. In 1975, a frost killed almost half of Brazil’s coffee trees which changed the prices drastically. In 1979, frost hit Brazil again, every tree lost result in no income for three to five years. The income loss is huge, considering 15 million trees lost. Brazil had to stop exporting of coffee and importers bought it in bulk afraid of the shortage. Prices increased and farmers planted more coffee, abundant when prices fell. Farmers began substituting coffee for other crops. Producers and consumers decided limit production to what the market can absorb, have a reserve and sell at an agreeable price. [150 words]
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