Enterprises not yet access loan to buy coffee for storage

Do Ha Nam, vice chair of Vietnam Cocoa and Coffee Association (Vicofa), has recently said that till date, there has been not yet enterprise accessing bank loan to buy coffee for storage after one month as of the prime minister’s decision taking effect (April 15).

Currently, firms are still waiting for guidelines from localities as well as banks to purchase coffee for storage according to the regulation.

Under the prime minister’s decision issued on April 13, enterprises will be allowed to buy maximum 200,000 tonnes of coffee for storage in 2009-2010 crops. These bank loans will be supported the lending rate of by 6 percent/year from the state budget with the maximum duration of six months (from April 15 to October 15).

Tags: Vietnam agriculture, Vietnam Coffee

Posted by VBN on May 12 2010. Filed under Agriculture. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry