USDA Attache: Vietnam 2008-09 Coffee Output To -2-

In order to support Vietnam's coffee industry, the state-run Agribank, Vietnam's largest bank for the agriculture sector, announced that it would add 3 trillion Vietnam Dong ($182 million) to the available credit line for coffee processors and exporters in the 2008/2009 coffee crop year. About 45% of this sum would be lent by Agribank branches in four provinces of the Central Highlands' coffee belt during the 2008/2009 crop year.

Vicofa proposes solutions for sustainable coffee industry 

At a time when the global coffee market has seen rapid fluctuations, Vicofa is urging the coffee industry to find measures to lower production costs through changes in fertilizer usage, irrigation, application of Good Agricultural Practices (GAP), Integrated Pest Management (IPM) and Good Manufacturing Practices (GMP). In addition to this, Vicofa has called on the Prime Minister to develop policies for reasonable interest rates and capital for the coffee industry for the 2008-2009 period as there are many small or medium-sized enterprises in the coffee sector that need to take out bank loans to procure coffee from local farmers. If banks continue to be restrictive with lending, these coffee industry firms will falter. Vicofa also counsels the coffee industry to focus on expanding high-value added coffee products and boosting the hygiene and safety of its products.

MARKETING 

The 2nd Buon Ma Thuot Coffee Festival set for mid-December 2008 The Dak Lak Peoples Committee will kick off the second Buon Ma Thuot Coffee Festival in Buon Ma Thuot city, Dak Lak province, from December 10-14, 2008. This festival being held in the largest coffee growing region of Vietnam aims to showcase and promote Vietnam's coffee products to both the domestic and international markets. An estimated 150 domestic and foreign enterprises will participate in this festival which is expected to have over 400 booths.

According to Organization Board, this festival will stress coffee culture, attach coffee to Tay Nguyen Culture. The Buon Ma Thuot coffee festival will be an opportunity for producers, businessmen, processors and consumers to meet, exchange experiences and also learn the many methods of making and enjoying coffee.

Coffee farmer to join e-trading floor at Buon Ma Thuot Coffee Exchange Center 
(BCEC) 

The Buon Ma Thuot Coffee Exchange Center (BCEC) will be opened during the time of the Second Buon Ma Thuot Coffee Festival. According to the Dak Lak Trade and Industry Department, this is the first exchange floor of agricultural products in Vietnam, invested and built on a national scale. It is the specific exchange floor of coffee in Viet Nam. The floor's operation will be aimed at establishing a transparent and dedicated market for domestic and foreign organizations and individuals involved in coffee trading, bringing it in line with current world trends. There will be a total storage capacity of 30,000 tons of coffee at the trading floor, which will be available for farmers to consign their products ahead of any transactions.