Brazil will pull out of a global coffee retention scheme designed to push up world prices if other coffee producing nations refuse to honour their commitments.

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India and Indonesia have been stalling on joining the scheme, which was agreed by all of the major coffee producing nations in the world. India is currently reviewing its participation in the retention programme, while in Indonesia; private exporters have released retained stocks after failing to receive government funding. News that Brazil might withdraw from the plan saw prices for coffee drop in New York and London.

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