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Dak Lak is bitter because of coffee

The selling price of coffee at this time has dropped to 5,000 VND / kg while the production cost of coffee reaches 10,000-12,000 VND / kg. Dozens of businesses and hundreds of coffee growing households in Dak Lak are in the situation: every day "opening their eyes" is seeing losses ... Farmers are difficult, businesses are difficult Mr. Pham Ba Hung, a coffee giant in Krong Pak, said that his family has 10 hectares of business coffee and 8 hectares of basic construction coffee. Last year 30 tons of people sold 150 million, but the total cost was up to 180 million, so a loss of 30 million. Meanwhile, he owes the bank VND 300 million. He said: "In the current situation, even if the bank has forced us to repay the debt, we have to accept". Coffee producers are suffering but they seem to be able to hold out. For businesses, especially businesses, it is really difficult. Some economists in Dak Lak said that if coffee prices continue to fall as low as now, 1-2 years from now, many businesses will be forced to go bankrupt. At present, there are about 60 coffee businesses in Dak Lak, of which 20 enterprises export directly and 40 enterprises do business in the form of trust and domestic business. By this time businesses have absorbed the "bitter taste" of coffee. There is a director who could not hide his bitterness: "Enterprises keep opening their eyes and seeing losses". The Coffee Exporters Club said that the upcoming price of coffee might continue to decline, and thus the situation will continue for a long time. The bank is even more bored Up to now, the total outstanding loans of commercial banks in Dak Lak province has reached VND 3,700 billion, of which 90% are lent for coffee production and trading. For a mountainous province with a predominantly agricultural economic structure, that outstanding debt is an encouraging result, but for Dak Lak at the moment it is a major concern. According to Mr. Vo Hong, Director of Dak Lak Branch of Agriculture and Rural Development Bank, the total debt balance of the branch in 2000 was VND 1,620 billion (an increase of VND 400 billion compared to 1999). , of which 1,200 billion is loaned to farmer households. Currently, this branch is under pressure from both sides. On one side is Vietnam State Bank of Agriculture and Rural Development. Of the total amount of VND 1,620 billion of the above-mentioned loan balance, VND 1,200 billion is the central capital transferred from the central bank with the interest rate of 0.6% / month, thus, the branch has to return to the State Bank of Vietnam on 7 months. billions dong. The second pressure is on the borrowers' side to produce and trade coffee, they cannot pay the bank due to continuous losses. The stuck between the two lines does not know who to call this is the general situation of the banks in Dak Lak province. According to the Saigon Economic Times
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