VIETNAM – Stockpiling scheme to be implemented from 15 April

MILAN – Vietnam is starting to start tomorrow purchasing coffee under a scheme aimed at stockpiling 200,000 tonnes of coffee for six months.

A final list of the companies authorised to conduct the stockpile, which is expected to include Vietnam\’s main exporters is to be released by the government later this week.

The companies are to buy the coffee from farmers at 25,000 dong per kilo. Prices have been around 24,600 dong per kilogram recently, but had fallen had fallen to as low as 22,000 dong earlier this year.

Banks have promised immediate access to subsidised loans at favourable interest rates to back the scheme.