Huy Hung Coffee Company
Coffee Market

Export finance business sector

THUrsday - 19/01/2012 16:44
On the sidelines of the annual review and discuss the direction for 2010-2011 crop year 2011-2012 activities of the Association of Vietnam Coffee and Cocoa (Vicofa) has shown the difficulties that the coffee exporters are facing .

This is the general difficulty of the field must always be exported when lo ensure inputs. According to Nguyen Nam Hai - Deputy Chairman Standing Vicofa, 2010-2011 crop year is favorable for agricultural production in general and in particular the prices of coffee Robusta coffee is the time over $ 2,600 a ton, the price highest in the past 13 years.

This season also marks the efforts of coffee farmers and other ministries and enterprises to maintain stable coffee area to 530,000 ha, nearly 1.3 million tons of output, exports of 1.2 million tons (equivalent to USD 2.7 billion), exceeding the volume and value compared to the previous season. And in the 2011-2012 crop year to forecast output growth up to 10% coffee, promise a season "bumper".

However, Nguyen Xuan Thai - Director of Thang Loi Coffee Company has feelings of insecurity: "Currently, the export market of Vietnam's coffee has expanded to nearly 80 countries around the world, in which the importer of coffee from Vietnam is U.S. large number (141 thousand tons), Belgium (108 thousand tons), China (28 thousand tons) ... capability we have but one concern is that capital ".

Vicofa expected 20 coffee exporters in Vietnam will purchase temporary storage of at least 300,000 tonnes of coffee in this season. Thus, a critical issue today is the capital for businesses when exporting coffee buying season is approaching, and looking to purchase, for temporary storage of coffee right from the beginning of the season.

In addition, many companies are exporting coffee with that, the challenges in production and business activities now is to find stable market output while pressure-related surcharges export activities increase continuously as the impact of rising interest rates, increasing the basic wage and other inputs ... team lead to price, production costs. Many companies have captured the market, but the store enough goods to prepare for the export contracts were difficult due to lack of funds.

t was during the time of "the fire burns hot water", the coffee export business in particular and export business community in general happy to welcome export programs sponsored by industry, to be implemented from the date of BIDV 29/11/2011, worth 5,000 billion, including four small program divided by the lines: "Along BIDV relay Vietnam's fisheries sector", "Along BIDV to export coffee crop," "Along BIDV business partner with textiles, footwear Vietnam "," BIDV with challenges beyond the timber industry in Vietnam. "

This is a commitment to joint efforts with the business community to overcome difficulties and is one of the specific action of BIDV made direct by the Government, the State Bank, as well as make the following commitment, "Situated Talk about stepping up export activities of Vietnam enterprises aimed at curbing inflation, stabilizing macro-economy ", by BIDV and coordinate with the Party Central Office, Ministry of Industry and Trade, Chamber of Commerce and Industry Vietnam (VCCI) held in May 9 / 2011.

"With this program, commercial enterprises or export-processing production in the field of fisheries, textiles, footwear, wood, coffee and other crops are BIDV financing right from procurement stockpiles of raw materials to produce exported goods, to the stage of contract performance / export orders and discount bills of exchange after delivery, in many diverse forms of payment TTR, CAD, L / C, D / P, D / A. .. together with the flexible terms of collateral.

In particular, the disbursements through December 3 / 2012 within the scope of this program, enjoy preferential interest rates lower than 0.5% a year compared with preferential interest rates for the current export loans to businesses Other export items, ie lower than about 2% a year compared to conventional interest rates. Attached to it is free or low cost financial services that banks used throughout the business cycle manufacturing business. Hopefully this will be a 'powerful tool' to contribute to help exporters with less difficulty and variable portion of their business opportunities into reality, "Mr. Bean Tri Dung - Vice Director in charge of product volume institutional clients of BIDV said.

Previous work on the bank's strong, Thai said: "With projected growth of 10% of coffee production, the release of credit products for export support such enterprises, banks have contribute to give us an opportunity to boost production and business activities and soon overcome this difficult period. "

Although the number of bank financing could not meet all the needs of all businesses, but also one very important resource for growing businesses. Mr. Thai said: "We appreciate the financial support in time of BIDV. Most are a lot of support to suit each production cycle of our business."

 

Author: CS

Source: vietnamnew

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