In the past time, many farmers have massively sold coffee and pepper in large quantities, so in order to avoid the situation that the price goes up but there is no more coffee and pepper for sale, the Vietnam Coffee and Cocoa Association (Vicofa) and the Association The Pepper Association (VPA) has proposed a plan to temporarily store coffee and pepper in the direction of credit support for people.
Currently, the Ministry of Agriculture and Rural Development (MARD) has assigned the Department of Agro-Forestry-Fisheries Processing and Trade and Salt Industry to consider this recommendation of Vicofa and VPA.
Mr. Doan Xuan Hoa, Deputy Director of the Department of Agro-Forestry-Fisheries Processing and Trade and Salt Industry, said that the department is investigating and assessing the level of temporary storage of coffee and pepper products of the people in the past time before taking provide specific answers to the recommendations of the two associations.
This is not the first time industry associations have proposed temporary storage to support prices for agricultural products. Previously, when the price of coffee was low, Vicofa also had a proposal to temporarily store 300,000 tons of coffee to push up the market price. This is similar to the Vietnam Sugar Association (VSSA) in 2011 which also petitioned the Government to support interest rates to temporarily store 200,000 tons of sugar for a period of 6 months.
However, this is the first time VPA has proposed credit support for farmers who temporarily store pepper. According to VPA, this year Vietnam lost pepper season, output decreased by about 20%, so it can only harvest about 88,000-90,000 tons, so if people and businesses sell massively in large quantities like last time, it will come. At the end of the year, the increase in pepper prices will be disadvantaged.
“Whether the associations have recommendations for farmers to borrow loans to temporarily store coffee and pepper is only the first step, whether it is approved or not is decided by the Ministry of Agriculture and Rural Development,” said Mr. Hoa.
According to the Ministry of Agriculture and Rural Development, in the first 4 months of 2013, Vietnam’s pepper export volume was 56,000 tons, the value of which was US$370 million, an increase of nearly 15% in volume and 17% in value over the same period last year. 2012. The average export price of pepper in the first quarter of 2013 was US$6,621/ton, down 3.4% over the same period last year.
Coffee exports in the first four months of the year were 608,000 tons, valued at over US$1.3 billion, down 13.4% in volume and more than 11% in value. The average export price of coffee in the first quarter of 2013 was US$2,165/ton, up 4.4% over the same period in 2012.
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