Stockpiling scheme to be implemented from 15 Apr
Vietnam is starting to start tomorrow purchasing coffee under a plan aimed at stockpiling 200,000 tons of coffee for half a year.
A final list of the companies authorised to conduct the stockpile, which is anticipated to incorporate Vietnam's main exporters is to be released by the govt later this week. The companies are to buy the coffee from farmers at 25,000 dong per kilo. Banks have guaranteed direct access to subsidised loans at favourable rates to back the scheme.
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According to the national Federation of Coffee Growers, or Fedecafe, coffee production dropped by 28.5 p.c in quarter one of 2010, compared with the year before.
In the first 3 months of 2009, 2.5 million bags of coffee were produced, compared to 1.8 million in the same period of time in 2010.
Jan production in 2010 fell by 41 % on year, while February saw a 26% drop and March an 18% drop.
Exports in March 2010 were 33 % lower than the same month the year before. Despite the grim statistics, growers are upbeat that the good behaviour of the blooms, climate and fertilization in late 2009 and early 2010 will provide a solid base to build upon. The federation also saw encouragement in the expansion in both domestic and global coffee costs in the 3rd month of 2010. ----
First Choice Coffee and Gala Coffee to be combined
According to reports, United Coffee is merging its two UK operation, First Choice Coffee and Gala Coffee, which supply food service companies like McDonald's and tube as well as major supermarket groups. United Coffee claimed it was too early to appraise the effect on its 280 staff in the uk, but added that it planned to grow the business across the UK.
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