The CFC improves the lot of producers
THE Common Fund for Commodities (CFC) – set up to help commodity producers who enhance social-economic development in their communities – is profiled in the Financial Times.
The agreement to set up the CFC came into force in 1989, following negotiations at the United Nations Conference on Trade and Development. It now has 109 members – 106 countries and three institutional members.
The CFCs work covers separate projects in commodities as diverse as cotton, sugar, coffee, jute, bananas, palm oil, coconut and olive oil.
Some 2.4 billion people are employed in agriculture in developing countries. As many as 900m of them are reckoned to be dependent on the production of export commodities.
Rolf Boehnke, managing director, says the CFC cannot hope to influence prices so it tries to act on costs. Mr Boehnke says its target is “the improvement of the economic basis of commodity producers” and to “enhance the competitiveness of commodities.”
- Financial Times 05/08/98 page 28