FOR IMMEDIATE RELEASE	AT

MONDAY, APRIL 27, 1998                                                                                                                               (202) 616-2771

                                                                                                                                                                                  TDD (202) 514-1888







JUSTICE DEPARTMENT AGREES TO CHANGES TO 1979 COFFEE,


SUGAR & COCOA EXCHANGE CONSENT DECREE








	WASHINGTON, D.C. -- The Department of Justice today agreed
to proposed changes to a 1979 Coffee, Sugar & Cocoa Exchange
consent decree that will simplify the process for arriving at the
daily quotation of the world spot price for raw sugar.  The
changes will not affect the decree's protections against
collusion.

	The changes are intended to work around time differences to
facilitate participation in the daily quotation process by
members of the sugar industry in Asia, decrease other burdens of
participation for industry members worldwide, and permit the
daily quote to reflect a wider perspective on sugar prices. 

	Those members of the sugar industry in Asia who are on the
world roster will now automatically fax spot quotation worksheets
overnight to the Exchange so that the Exchange will have their
price data in time to calculate the spot price for the day.  To
calculate the price, the Exchange randomly gathers price data
from a roster of individuals divided into five categories from
the sugar industry such as brokers, refiners and merchants.  The
Exchange takes the price data and uses a formula to calculate the
spot price for the day.  Participation by members of the industry
in Asia is of particular interest as the daily quotation is
frequently used in trading in the Eastern Hemisphere.

	The daily quote will now reflect a wider perspective on
sugar prices because in one of the categories all industrial end
users will be included in the daily roster, not just sugar
refiners as in the past.  

	The proposed changes will also offer a more streamlined
process for gathering price data.

	In 1977, the Department filed a civil antitrust case against
the Exchange, charging that the Exchange had caused its spot
quotations for raw cane sugar to be set on a subjective basis by
interested parties.  The case was resolved by a consent decree
designed to ensure that the Exchange calculated spot prices for
raw sugar on the basis of objective information.

	In November 1996, the Department agreed to changes to the
1979 consent decree that eliminated procedures to determine the
domestic spot price for raw sugar since the exchange stopped
calculating that price in 1985, and to modify the current
procedures for determining the world spot price.

	Copies of the consent decree and the proposed amendments are
available for inspection in Room 3630, United States Department
of Justice, Antitrust Division, 26 Federal Plaza, New York, New
York 10278.  Interested person may address comments to Ralph T.
Giordano, Chief, New York Office, at that address.  Comments
should be sent within 60 days of the date of this announcement.

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