ICCO TO EXAMINE BUFFER STOCK PROPOSAL TOMORRROW

  The International Cocoa Organization,
  ICCO, council adjourned after presenting divergent producer and
  consumer views on buffer stock rules and agreeing to examine a
  draft compromise proposal on the buffer stock issue tomorrow,
  delegates said.
      ICCO Executive Director Kobena Erbynn will draw up what
  some delegates called a "pre-compromise" and present it to the
  buffer stock working group at 1130 hrs GMT Tuesday, they said.
      While consumer and producer member nations disagree how a
  buffer stock should be implemented, both sides reiterated they
  were willing to compromise to come to agreement, they said.
      "I am optimistic we will be able to come to an agreement --
  maybe not tomorrow or the next day, but some time later in the
  session," a consumer delegate said.
      Producers say they want the buffer stock to consist only of
  ICCO member cocoa, comprise a representative basket of various
  grade cocoas and pay different prices for different grades,
  delegates said.
      Some consumers would rather the buffer stock manager be
  able to buy non-member cocoa also, and pay a single price for
  the buffer stock cocoa without respect to origin.
      Consumer members were not unified in their views on how the
  buffer stock should operate, with several countries backing
  different aspects of the producer stance, delegates said.
      The semi-annual council meeting is scheduled to run until
  March 27. Consideration of the buffer stock rules is the most
  controversial topic on the agenda, delegates said.
  

