ANNEX 8
Glossary of Terms Used by the International Coffee Organisation
This glossary covers selected terms relating to the operation of the International Coffee Agreements 1962, 1968, 1976, 1983 and 1994 and Extensions and are listed in alphabetical order.
Acceptance
* See Instruments of acceptance, accession, approval or ratification
Accession
A means of becoming Party to the Agreement. Conditions for accession are
established by the Council.
* See also Contracting Party; Instruments of acceptance, accession, approval
or ratification
Adjustment of quotas
The adjustment of quotas in response to movements in the composite indicator
price or in the indicator prices of the principal groups of coffee. For this
purpose, indicator prices are collected daily in accordance with procedures
established under the Agreement. The system includes provisions regarding price
ranges, the number of market days over which counts are held and the number
and size of adjustments. Adjustments are applied pro rata and may be downward,
involving a cut in quotas, or upward, involving an increase in quotas. Under
the terms of the 1983 Agreement, annual and quarterly quotas may also be varied
by the Council if market conditions so require.
* See also Counts; Pro-rata adjustments to quotas; Quotas; Selectivity; Indicator prices
Agent
A firm or person appointed by the Executive Director to carry out specific
duties related to the operation of the Agreement, for instance, in relation
to controls or the verification of stocks.
Allocation of annual quotas
The annual distribution of quotas among exporting Members in accordance
with the proportions specified in the Agreement.
* See also Quotas
Annual
For the purposes of the Agreement the word "annual" may mean any period
of 12 months established by the Council.
Annual quotas
* See Quotas
Approval
* See Instruments of acceptance, accession, approval or ratification
Arabica
A type of coffee produced from a tree of the botanical species Coffea Arabica.
Arabica coffees have distinctive characteristics which are affected by a number
of factors including the processing method used. Mild Arabicas, including Colombian
Arabicas, are produced by the wet method. Unwashed Arabicas are produced by
the dry method. Countries producing Arabica coffee are grouped in one of the
three groups of Arabica producing countries established under the Agreement,
namely Colombian Mild Arabicas, Brazilian Natural Arabicas, and Other Mild Arabicas,
according to the type of Arabica coffee they produce.
* See also Groups of coffee
Assurance of supply
Provisions designed to ensure that supplies of coffee are made available
to the market. One of the objectives of the Agreement is to assure adequate
supplies of coffee to consumers at fair prices.
* See also Regulation of supply; Supply
Availability for export
The exportable production of an exporting country in a given coffee or crop
year, plus accumulated stocks from previous years.
Bag
As defined in the Agreement, a bag means 60 kilograms or 132.276 pounds
of coffee. Some exporting Members use bags of 70 kg or other weights for their
exports.
Basic quotas
* See Quotas
Bean
* See Coffee bean
Bill of lading
A document issued by a shipping company and giving details of goods shipped,
the ship on which the goods are consigned, and the names of the consignor and
consignee. One of the documents required by the Organization for the purposes
of the controls rules.
Brazilian Natural Arabicas
One of the groups of Arabica coffee established under the Agreement. Countries
in this group are: Brazil, Ethiopia and Paraguay
Calendar year
A period of 12 months from 1 January to 31 December.
Ceiling
A term used in the system of indicator prices. The ceiling is the upper
limit in the price ranges established for the purpose of adjusting quotas in
response to movements in prices.
* See also Adjustment of quotas; Floor, Indicator prices; Price ranges
Certificate of Origin
A certificate issued by a certifying agency in a format established by the
Organization to cover an export of coffee by a Member. The certificate states
the country of origin of the coffee and provides information required under
the relevant controls rules, e.g. country of destination, volume of coffee exported,
etcetera.
Certificate of Re-export
A certificate issued by a certifying agency in an importing Member country
for coffee which moves beyond the territory of that country after having been
previously imported.
Certificate of Re-shipment
A certificate issued by a certifying agency in an importing Member country
for coffee which has been placed under customs control but has not been imported
and which is moving beyond the Member's territory.
* See also Re-shipment of coffee
Certificate of Transit
A certificate issued by a certifying agency in an importing Member country
for coffee which is not under customs control and can be located either within
the Member's territory or afloat. A Certificate of Transit is used for splitting
parcels of coffee.
* See also Splitting of consignments/parcels
Certifying agency
A qualified agency, chosen by Members and approved by the Organization,
appointed to issue Certificates of Origin, Re-export, Re-shipment and Transit.
Cherry
The fruit of the coffee tree. Dried coffee cherry is the dried fruit.
Coffee
General term for the fruits (cherries) and seeds (beans) of plants of the
genus Coffea, as well as products from these fruits and seeds in different stages
of processing and use.
Coffee Forms
* See Forms of coffee
Coffee Groups
* See Groups of coffee
Coffee Types
* See Types of coffee
Coffee bean
Commercial term designating the dried seed of the coffee plant.
Coffee export quotas
* See Quotas
Coffee export stamps
Stamps to be affixed to Certificates of Origin for the purpose of validating
such certificates which must be equivalent in value to the net weight of coffee
covered by the certificate. The stamps are deposited with an agent appointed
by the Executive Director and are released on the instructions of the Executive
Director in accordance with procedures established for this purpose.
* See also Release of stamps
Coffee in transit
Coffee which is not imported and not under customs control.
* See also Coffee transit stamps
Coffee stamps
* See Coffee export stamps; Coffee transit stamps
Coffee transit stamps
Stamps to be affixed to Certificates of Transit for the purpose of validating
such certificates which must be equivalent in value to the net weight of coffee
covered by the certificate.
* See also Certificate of Transit
Coffee under customs control
Coffee which is placed under customs control but is not intended for immediate
importation and for which valid certificates are withdrawn.
Coffee year
A period of 12 months from 1 October to 30 September.
Colombian Mild Arabicas
One of the groups of Arabica coffee established under the Agreement. Countries
in this group are: Colombia, Kenya and Tanzania
Compliance with quota provisions
Exporting Members undertake to ensure full compliance with all provisions
of the Agreement relating to quotas. Measures on compliance provide that exporting
Members may not exceed the annual and quarterly quotas allocated to them and
sanctions are applicable to exporting Members which fail to comply with these
measures.
* See also Quotas
Compliance with requirements on the supply of statistical information
Members undertake to provide such information as the Council considers necessary
for its operation, including regular statistical reports on coffee production,
production trends, exports and imports, distribution, consumption, stocks, prices,
and taxation. The Executive Director keeps the Council informed of compliance
by Members with these requirements.
Composite indicator price
The arithmetical mean of the weighted average of daily prices for selected
coffees of the Other Mild Arabicas and Robusta groups, calculated in accordance
with procedures established under the Agreement. The weighting reflects the
participation of the groups in world trade.
* See also Indicator prices
Consumer countries
Countries which are net importers of coffee. Member countries in this category
belong to the Consumer Group.
Consumption
The amount of green coffee entering the market for use in processing and
final consumption.
* See also Domestic consumption; Obstacles to consumption
Contracting Party
A country or intergovernmental organization which has become a Party to
the Agreement by depositing with the Secretary General of the United Nations
an instrument of ratification, acceptance, approval or accession.
Controls
A system for ensuring compliance with the quota provisions of the Agreement.
The system provides for the issue of Certificates of Origin and other forms
of certificate, and for the issue and release of coffee export and transit stamps
in accordance with rules and procedures for controls.
All documents issued are examined to detect fraudulent transactions, for example transactions covered by forged certificates or certificates validated with counterfeit coffee exports stamps.
* See also Certificate of Origin; Certificate of Re-export; Certificate of Re-shipment; Certificate of Transit; Certifying agency; Coffee export stamps; Coffee transit stamps; Valid certificates
Count
The number of days (working days or market days) during which the composite
indicator price remains above the ceiling or below the floor of the price
range established for the purpose of applying adjustments to quotas.
* See also Adjustment of quotas
Country code
A number allocated to exporting and importing countries for the purpose
of the mechanical processing of certificates.
Country of destination
The intended country of destination for a shipment at the time of export.
Country of origin
The country in which the parcel of coffee exported has been grown.
Covering note
A listing which must accompany batches of Certificates of Origin in Forms
0 and X forwarded to the Organization in accordance with the relevant controls
rules.
Crop year
A period of 12 months commencing on the first day of the month in which
the harvesting of the crop begins. Exporting Member countries are grouped according
to the date on which their crop year commences. The crop years currently used
by the Organization commence on 1 April, 1 July and 1 October.
Cut
A downward adjustment to quotas under the system for adjusting quotas in
response to movements in the composite indicator price or in group indicator
prices. Cuts may be applied globally or selectively.
* See also Adjustment of quotas
Decaffeinated coffee
Green, roasted or soluble coffee from which caffeine has been extracted.
Demand
The quantity of a product which consumers wish to buy at a given price.
Dependent territory
A territory which is dependent on a metropolitan territory for, inter
alia, the conduct of its international relations.
Any Contracting Party which has dependent territories may, at the time of signature of the Agreement, or on depositing an instrument of acceptance, approval, ratification or accession, or at any time thereafter, notify the Secretary General of the United Nations of the name(s) of the territory(ies) for whose international relations it is responsible and to which the Agreement is extended.
Designated territory
A territory which is a net exporter of coffee and which participates in
the Organization separately following appropriate notification by a Contracting
Party which is a net importer of coffee and which is responsible for the international
relations of the designated territory.
Destination
* See Country of destination
Differentials
* See Price differentials
Disappearance
A measure of consumption providing an indication of the volume of coffee
entering the marketing channels in importing Member countries in a given period.
It is estimated by deducting re-exports from gross imports and adjusting the
resulting figure for changes in visible inventories. This method does not take
into account changes in invisible inventories such as larder and shelf stocks.
Distribution of quotas
The distribution of quotas among exporting Members in accordance with specified
proportions.
* See also Allocation of annual quotas; Quotas
Diversion
Coffee exported from an exporting Member to an importing non‑member
country which is finally imported into an importing Member country
Domestic consumption
The amount of coffee consumed locally in exporting Member countries in a
given period.
In general, the amount of a particular good or service consumed by a country's
internal market.
Dried coffee cherry
* See Cherry
Dry processed coffee
* See Unwashed coffee
Export availability
* See Availability for export
Export entitlement
The total quantity of coffee which a Member is authorized to export under
the provisions of the Agreement.
* See also Quotas
Export quotas
* See Quotas
Exportable production
The total production of coffee in an exporting country in a given coffee
or crop year, less the amount destined for domestic consumption in the same
year.
Exporting Member
A Member country which is a net exporter of coffee, that is, a Member whose
exports exceed its imports.
Member countries which produce coffee (e.g. Fiji and the USA) but which are net importers of coffee are classified as importing Members.
Fictitious shipment
A term used to describe a non existent shipment of coffee for which a Certificate
of Origin has been issued.
* See also Undeclared shipment
Fifteen day moving average
* See Moving average
Fixed part
Under the provisions of the 1983 Agreement the fixed part is the part of
the individual annual export quota which is determined by reference to historical
export performance. It corresponds to 70 percent of the global annual quota
and remains fixed. The variable part of the individual annual export quota is
determined on the basis of the volume of stocks held in individual exporting
Member countries and corresponds to 30 percent of the global annual quota.
Floor
A term used in the system of indicator prices. The floor is the lower limit
in the price ranges established for the purpose of adjusting quotas in response
to movements in prices.
* See also Adjustment of quotas; Ceiling; Indicator prices; Price ranges
Forms of coffee
Refers to the fruits and seeds of the coffee tree in terms of the stage
of processing. Forms of coffee include dry cherry, parchment, green, roasted,
ground, decaffeinated, liquid and soluble coffee. All these terms are defined
in the Agreement.
Free port
A port where no duties are paid on goods in transit.
Global annual quota
* See Quotas
Government
For the purposes of the Agreement, references to a Government are construed
as including a reference to the European Economic Community or any inter�governmental
organization having comparable responsibilities in respect of the negotiation,
conclusion and application of international agreements, in particular commodity
agreements.
Green coffee
Coffee in the naked bean form (i.e. from which the silverskin has been removed)
before roasting.
Groups of coffee
Types of coffee with distinctive characteristics produced by exporting Member
countries.
For the purpose of the Agreement exporting Member countries are grouped according to the type of coffee which each produces either exclusively or mainly. Fourteen exporting Member countries produce significant amounts of both Arabica and Robusta.
The following groups have been established under the Agreement: Colombian Mild Arabicas, Other Mild Arabicas, Brazilian Natural Arabicas, Robustas.
* See also Types of coffee
ICO Mark
A combination of figures which includes the country code (3 figures), the
code for the exporter or grower (4 figures) and the parcel number (4 figures).
The ICO mark must be unique to each parcel of coffee.
Import Return
A document certified by the customs authorities of an importing Member country
to cover the importation of coffee not accompanied by a valid Certificate of
Origin. Import returns are used during the transition between quota and non
quota periods.
Importation of coffee
Any coffee which enters into the customs territory of a country or customs
union and is released by the customs for processing or domestic consumption.
Importing Member
A Member country which is a net importer of coffee, that is, a Member whose
imports exceed its exports.
Imports Regulation
* See Regulation of imports
Increase
An upward adjustment to quotas under the system for adjusting quotas in
response to movements in the composite indicator price or group indicator prices.
Increases may be applied globally or selectively.
* See also Adjustment of quotas
Indicator prices
Representative prices for coffee, including a composite indicator price
for coffee as a whole and group indicator prices for Other Mild Arabicas and
Robustas.
The prices are compiled daily from quotations for prompt shipment obtained
from various major coffee markets (New York, Bremen/Hamburg and Le Havre/Marseilles)
and are weighted to reflect the participation of the various coffees in world
trade. Prices are expressed in US cents per pound of green coffee.
* See also Composite indicator prices; Price differentials; Price ranges
Instruments of acceptance, accession, approval or ratification
Documents used in international treaty law. Governments become party to
an international treaty or agreement on depositing such documents with a designated
depositary. The depositary for the International Coffee Agreement is the Secretary
General of the United Nations.
Internal consumption
* See Domestic consumption
Inventories
Stocks of green coffee held by importers, traders and roasters in importing
countries, excluding stocks held in free ports.
Liquid coffee
The water soluble solids derived from roasted coffee and put into liquid
form.
Market conditions/situation
The situation of the world coffee market as assessed from trends in production,
trade, consumption and prices.
Market day
For the purposes of the indicator price system a market day is a day when
the market in New York is open and operative.
Member
A Contracting Party to the Agreement; a designated territory or territories
in respect of which separate membership has been declared; or two or more Contracting
Parties which participate in the Organization as a Member group.
Member group
Two or more Contracting Parties which, on depositing their respective instruments
of approval, ratification, acceptance or accession, declare by appropriate notification
to the Secretary General of the United Nations that they are joining the Organization
as a Member group.
Metropolitan territory
* See also Dependent territory
Mild coffee
Wet processed Arabica coffee
Mixtures and substitutes
Products sold as coffee which include raw materials other than coffee or
products which are sold as a substitute for coffee. The Agreement contains provisions
relating to mixtures and substitutes.
* See also Substitutes
Moving average
An artificially constructed time series in which each figure (annual, monthly,
daily) is replaced by the average, i.e. arithmetic mean of itself and values
corresponding to a number of preceding periods. For instance, in a 15‑day
moving average each daily figure is replaced by the mean of itself and those
of the immediately preceding 14 days.
Obstacles to consumption
Measures which may hinder an increase in the consumption of coffee.
Origin
* See Country of origin
Other Mild Arabicas
One of the groups of Arabica coffee established under the Agreement. Countries
in this group are: Bolivia, Burundi, Costa Rica, Cuba, Dominican Republic, Ecuador,
El Salvador, Guatemala, Haiti, Honduras, India, Jamaica, Malawi, Mexico, Nicaragua,
Panama, Papua New Guinea, Peru, Rwanda, Venezuela, Zambia and Zimbabwe.
Overstamping
Term used when Certificates of Origin are validated with coffee export stamps
which are higher in value than the net weight covered by the certificates.
* See also Coffee export stamps; Coffee transit stamps; Understamping
Parchment coffee
The green coffee bean contained in the parchment skin.
Period of validity
Length of time during which a Certificate of Origin, Re-export, Re-shipment
or Transit may be used to import a parcel of coffee or may be credited to a
transit stamp account.
Port of discharge
The port where the coffee is off loaded; this may not be in the country
of destination (as in cases where the coffee is exported to a landlocked country).
* See also Country of destination
Port of loading
The port where the coffee is put on board an ocean‑going vessel. For
the purposes of the controls rules a port of loading refers to an ocean port.
Pound
Unit of weight equivalent to 453.597 grammes
Price differentials
The difference between the indicator prices for the four principal groups
of coffee (Colombian Mild Arabicas, Other Mild Arabicas, Brazilian Natural Arabicas,
and Robustas) which may be taken into account in applying the indicator price
system.
* See also Indicator prices
Price ranges
Reference prices for the composite and group indicator prices, setting upper
and lower limits within which prices are to be maintained in accordance with
procedures established under the Agreement. When prices move outside the range,
quota adjustments are triggered and applied in accordance with the provisions
in force.
* See also Indicator prices
Prices
* See Indicator prices; Price differentials; Price ranges
Processed coffee
Coffee treated through any manufacturing process. To produce green coffee,
beans may be processed either by the wet or dry methods of processing, producing
washed and unwashed coffees respectively.
Producer countries
Countries which produce coffee in commercially significant quantities and
which are net exporters of coffee. Member countries in this category belong
to the Producer Group.
Producing Member
A Member country which grows coffee in commercially significant quantities.
Member countries which produce coffee but which are net importers of coffee
are classified as importing Member countries.
Production
The total amount of coffee produced in a country during a given period (e.g.
coffee year, crop year, 12 months, quarter).
* See also Exportable production
Production goals
* See Production policy
Production policy
Measures implemented by Governments and international bodies which relate
to the production of coffee in exporting countries. Such policies may include
the setting of production goals. Exporting Members undertake to adopt and implement
production policies which will be conducive to the achievement of a reasonable
balance between world supply and demand on the basis set out in the objectives
of the Agreement.
Prorata adjustments to quotas
A system for the prorata distribution of adjustments made to quotas in response
to movements in the composite indicator price.
* See Adjustment of quotas
Quarter
* See also Quotas
Quarterly quotas
* See Quotas
Quota adjustment system
* See Adjustment of quotas
Quotas
The amount of coffee which exporting Members are entitled to export under
the terms of the Agreement. This is referred to as a coffee export quota.
The global quota is the total quota for all exporting Members and is
set by the Council annually in accordance with the provisions of the Agreement.
It is referred to as a global annual quota.
Individual annual quotas are allocated to all exporting Members and are divided into quarterly quotas to ensure an orderly flow of coffee to the market. Adjustments to quotas may be made in response to market conditions in accordance with the procedures for the operation of a price/quota system.
Under the economic provisions of the 1983 Agreement Members exporting more than 400,000 bags of coffee a year were entitled to a basic quota distributed among exporting Members in accordance with the proportions established in the Agreement. Members exporting less than 400,000 bags were exempt from the allocation of a basic quota.
* See also Adjustment of quotas; Allocation of annual quotas; Compliance with quota provisions; Distribution of quota; Export entitlement; Prorata adjustments to quotas; Selectivity; Universal quota
Ratification
* See Instruments of acceptance, accession, approval or ratification
Re-export of coffee
Coffee which moves beyond the customs territory of a country or customs
union which has previously imported that coffee.
Regulation of imports
Measures for regulating imports in order to support the objectives of the
Agreement, in particular to prevent non member countries from increasing their
exports at the expense of exporting Members.
Regulation of supply
Measures designed to regulate supplies of coffee to the market.
* See also Assurance of supply; Supply
Re-shipment of coffee
Coffee which has been placed under customs control but which has not been
imported and moves beyond the territory of the Member concerned.
* See also Certificate of Re-shipment
Release of stamps
The release of an additional quantity of coffee export stamps corresponding
to the amount of any upward adjustment to quotas. The stamps are released to
the certifying agency in Member countries on the instructions of the Executive
Director by the agent appointed to act on behalf of the Organization in respect
of coffee export stamps.
Roasted coffee
Green coffee roasted to any degree. The term includes ground coffee.
Robusta
A type of coffee produced from a tree of the botanical species Coffea
canephora.
One of the groups of coffee established under the Agreement, grouping all
exporting countries producing Robusta mainly or exclusively. Countries in this
group are: Angola, Congo D.R. of, Ghana, Guinea, Indonesia, Liberia, Nigeria,
OAMCAF (Benin, Cameroon, Central African Rep., Congo, Cote d'Ivoire, Equatorial
Guinea, Gabon, Madagascar, Togo), Philippines, Sierra Leone, Sri Lanka, Thailand,
Trinidad and Tobago, Uganda and Vietnam.
* See also Groups of coffee
Selective adjustment of quotas
* See Selectivity
Selectivity
A system for the adjustment of quotas within groups of coffee in response
to movements in the relevant group indicator prices.
Adjustments are applicable only to exporting Members in the group affected.
Shipment
Term used to refer to: (1) a parcel of coffee for export; and (2) an export
of coffee.
Shipping documents
The various documents involved in exporting goods. These documents may include
bills of lading, airway bills, and waybills. Copies of such documents have to
be provided by Members under the provisions of the controls rules.
Shortfall
The difference between the export entitlement of an exporting Member and
the volume of coffee actually exported. Exporting Members are required to declare
any anticipated shortfalls as early as possible in the coffee year.
* See also Undershipment
Soluble coffee
The dried water soluble solids derived from roasted coffee.
Splitting of consignments/parcels
Parcels of coffee afloat or within the territory of a Member but not under
customs control can be split by surrendering to a certifying agency in the importing
Member country a valid Certificate of Origin, Re-export, Re-shipment or Transit
and obtaining valid Certificates of Transit in exchange.
* See also Certificate of Transit
Stock policy
Measures relating to the regulation of stocks to support the objectives
of the Agreement, in particular the achievement of a long term equilibrium between
supply and demand.
* See also Verification of stocks
Stock verification
* See Verification of stocks
Stocks
The amount of coffee held in exporting Member countries at any given time
by producers, processors, traders and exporters. Stocks are held either because
the coffee is surplus to export requirements or to ensure an orderly flow of
exports.
The stocks taken into account for the purpose of estimating supply are stocks of all forms of coffee of exportable quality held by exporting Member countries, excluding stocks in the hands of individual growers, coffee in transit or coffee held by domestic retailers. Gross opening stocks are the stocks held at the beginning of a crop year. Net opening stocks are gross opening stocks less working stocks.
* See also Verification of stocks; Working stocks
Substitutes
Products described as a substitute for coffee.
* See also Mixtures and substitutes
Supply
The total amount of coffee available to the domestic and export markets;
it comprises total production plus stocks.
* See also Assurance of supply; Production; Regulation of supply; Stocks
Tonne
A metric tonne of 1,000 kilogrammes or 2,204.6 pounds.
Types of coffee
The two main types of coffee traded internationally are Arabica and
Robusta. Excelsa and Liberica coffees are also produced commercially
but in much smaller quantities. Producing Members which produce Arabica or Robusta,
exclusively or mainly are grouped into one of the four groups established under
the Agreement: Colombian Mild Arabicas, Other Mild Arabicas, Brazilian Natural
Arabicas, and Robustas.
Undeclared shipment
A consignment of coffee which has been exported by an exporting Member without
the issue of a Certificate of Origin.
* See also Fictitious shipment
Undershipment
The difference between the actual volume of coffee exported by an exporting
Member and the annual export quota of the Member when the coffee is available
but is not shipped for any reason.
* See also Shortfall
Understamping
Term used when Certificates of Origin are validated with coffee export stamps
which are lower in value than the net weight covered by the certificates excluding
the allowance prescribed by the controls rules.
* See also Coffee export stamps; Coffee transit stamps; Overstamping
Universal quota
A quota applicable to all exports of coffee by Members regardless of whether
these are destined to Member or non�member markets.
Unwashed coffee
Green coffee prepared by dry processing of the fruit. The term "natural
coffee" is also used for this product.
Valid certificates
Certificates of Origin, Re�export, Re�shipment and Transit, as defined in
the controls rules. A certificate ceases to be valid for the importation of
a parcel of coffee if the parcel of coffee has been re-bagged or re�marked so
as to appear to be the parcel of coffee for which the certificate was issued.
Variable part
Under the provisions of the 1983 Agreement the variable part is the part
of the individual annual export quota which is determined by reference to the
level of stocks held by the exporting Member. It corresponds to 30 percent of
the global annual quota.
* See also Fixed part
Verification of stocks
A system for the annual verification of the volume of coffee stocks held
by exporting Members. The verification is carried out in exporting Member countries
at the end of their crop years in accordance with rules established for this
purpose. Verification is done by physical counting of the bags of coffee held
in designated warehouses and by checking of documentary evidence.
The stocks verified are stocks of all forms of coffee of exportable quality, excluding stocks in the hands of individual growers, coffee in transit, or coffee held by domestic retailers.
Waiver
A dispensation which may be granted to Members to relieve them of any of
their obligations under the Agreement on account of exceptional or emergency
circumstances. Criteria and procedures for the granting of waivers are determined
by the Council.
Washed coffee
Green coffee prepared by wet processing of the fruit.
Wet processed coffee
* See Washed coffee
Working stocks
* See also Stocks; Verification of stocks
World coffee market
The global market for coffee comprising both Member and non�member countries.
