Not the whole story
response to George's post Is fairtrade really good?
One of the details which coverage like that in the Economist usually glosses over (I haven't read that article so apologies if it covered this) is that a lot of that overproduction is the result of Structural Adjustment Policies applied in the 70s and 80s to encourage developing countries to build their economies by focussing on cash crops. The heavy debts of those countries were used as leverage to force them to adopt such policies.
Overproduction isn't a surprising result of that, but I'd argue that those of us in the countries that enforced them have some responsibility to redress the situation. Fair Trade works as one way of providing funding for communities to use to fund education and resources for diversification.
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