Huy Hung Coffee Company
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Vietnam’s coffee output likely to touch 1.1m tonnes in 2011-12

THUrsday - 19/01/2012 17:04

Forecast by foreign coffee organisations on Vietnam’s coffee output saying that it is to increase highly in the crop year 2011-12 is not accurate and is adversely affecting the volatility of coffee prices in the domestic market.

Luong Van Tu, chair of Vietnam Coffee and Cocoa Association (Vicofa), said in the sidelines of the reviewing conference in the coffee crop year 2010-11 and plan for new crop recently.

Vicofa forecasts the country’s coffee output in the crop year 2011-12 at only 1.1 million tonnes, or 18.33 million bags. Thus, Vietnam’s coffee output in new crop year would account for about 14-15 percent of the total global output.

It is reported that, to support coffee businesses in the new crop year, Vietnam Bank for Agriculture and Rural Development (Agribank) has recently signed an agreement with Vicofa about credit support programme for coffee sector.

Accordingly, Agribank will set aside of credit package worth five trillion dong for the programme of harvest, production and processing of coffee in the next crop year with many incentives in interest rate and loan term.

Author: CS

Source: coffeemarket

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