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Coffee prices fall again [on 1/2/01/2001]

From the middle of January, up to now, the coffee market has almost been frozen because the export price of Robusta coffee type 2 has fallen below 500USD / ton. The coffee industry has once again called for urgent support from the Government. Buying coffee price in Dak Lak, Gia Lai, Lam Dong and Dong Nai provinces was only VND 5,700-6,000 / kg after increasing to VND 6,700 / kg before Tet. FOB price of robusta coffee grade 2 is only at 470-480 USD / ton, down 30USD / ton compared to last week's price. This price is lower than the floor price set by the Vietnam Coffee - Cocoa Association at US $ 500 / ton, so coffee exporters have stopped signing contracts to sell coffee, only domestic trading. . According to the evaluation of some coffee exporters, the price of coffee exported is still low and the increase is unsustainable due to the lack of synchronous coffee export policy, the temporary storage of coffee is not strong enough. Deputy Prime Minister Nguyen Cong Tan has signed a guiding document on supporting coffee production and business. Accordingly, the Government allowed the use of the Export Support Fund to support 70% of the bank loan interest rate incurred by enterprises that had paid surcharges for export coffee before, to buy and process coffee. exported in the first month of 2000. The State Bank reported the outstanding loan balance of coffee farmers in the provinces to take measures to directly support coffee growers. Regarding the exemption and reduction of agricultural land use tax for farmer households and coffee producing enterprises in the 2000-2001 crop, assigned to the presidents of the provincial People's Committees for consideration. The Government also assigned the Ministry of Agriculture and Rural Development and the Ministry of Trade to study and propose immediate and long-term solutions to exported coffee products, reorganize the organization and work methods. of Vietnam Coffee and Cocoa Association to better perform its role. According to Youth
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