By experts' opinion, the prices in the market are undercut by low-quality coffee.
The plight of world coffee producers became the main subject of the emergency conference organized in London by International Coffee Organization and the World Bank.
According to the organizers, as a result of a sharp decline of coffee prices many farmers - coffee producers found themselves on the verge of starvation.
Analysts state that the main culprit is overproduction and increased supply of low-quality varieties.
The situation was largely aggravated after Vietnam came to the market traditionally dominated by African and Latin American countries.
Today the market price for coffee beans is the lowest in the last 30 years.
By the estimates of International Coffee Organization, the market is seriously unbalanced: supply exceeds demand by about 15%.
According to experts, the coffee harvest in Vietnam has grown more than 80 times since the beginning of 1980s. In Brazil it has doubled over the same period.
At the same time coffee consumption was growing more slowly and has even decreased in some countries. As a result, the prices fell sharply.
The quality problem
According to Nestor Osorio, head of International Coffee Organization, the prices are falling because of abundance of low-quality coffee.
He thinks that to stabilize the situation it is necessary not only to remove low-quality coffee from the market, but also to try to convince the producers to reduce production volumes.
The problem is that it is hard for farmers to switch to the production of other cultures.
Doing so they often face high import tariffs and competition with local farmers, who are subsidized by the government.