Bolivia's coca growers want the Coca-Cola Co. (NYSE:KO) to drop "Coca" from its name and passed a resolution to that effect. The Coca-Cola Co. would have none of that of course, saying its trademark is "the most valuable and recognized brand in the world," which is absolutely true.

Still, Bolivian growers say coca is a "potent shrub [that] belongs to the cultural heritage of this Andean nation." While the coca leaf is indeed sacred to many in the region, it remains the base ingredient of cocaine and therefore illegal to use and grow in most places around the globe.

A little history lesson might be in order here: Originally, the Coca-Cola syrup was made from coca leaves and kola nuts -- the source of caffeine. An estimated 9 milligrams of cocaine were present in one glass, according to Wikipedia. Today, it is largely assumed that the syrup is made from "spent" coca leaves (the leftovers of the cocaine-extraction process) and kola nuts.

While Coca-Cola denies it has ever used cocaine as an ingredient, it wouldn't say whether the natural coca leaf was used to flavor the soda. Bolivian coca growers, however, claim the company used to purchase tons of their leaves annually. If the company can purchase and use the leaves, they say, it should defend the leaves, too, and help their cause in decriminalizing the leaf.

They also hope that once decriminalized, a whole slew of coca-based products could be sold internationally such as tea, flour, liquor and even toothpaste, and instead of growing coca for drug trade, farmers would divert production for legitimate products. The U.S. opposes.

Update: Coca-Cola is to report earnings April 17th, here's BloggingStocks' earning preview.