According to the Ministry of Agriculture and Rural Development (MARD), in May, the volume of coffee exported only 109,000 tonnes, earning U.S. $ 226 million. Total 5 months, coffee exports reached 697 000 tonnes, down 23.2%, turnover of nearly U.S. $ 1.49 billion, down 21.7% compared to the same period in 2012.
Drops price, export losses
Coffee prices have dropped continuously for more than 3 months long. If the transaction closing date 18/5 closing at $ 2,037 / ton, then come on 15/6, has lost nearly 300 USD / ton. Domestic coffee prices plummeted and "no brakes". On 06.17.2013, the price of coffee in the Central Highlands bucket to about 38 million / ton, down 2 million / ton compared with the previous week and lost almost 8 million / ton over the past 3 months.
Earlier, the domestic coffee price at 45-46 million / ton, many people are likely to believe information Vietnam Robusta potentially reduce output by severe drought could push up prices high. According to Vicofa, coffee production in Vietnam crop year 2011 - 2012 decreased to 25% and the harvest season in August 10/2013 to come down to 30-35%. However, changes in market prices do not follow the rules "is losing season prices", but loss of the season, but the price has dropped dramatically. Many farmers still "holding goods", reduced sales, but did not save the situation.
A dealer said most coffee farmers, dealers are expected to be in the domestic price 44000-45000 / kg, the new sales, and export prices have reached 2100-2200 USD / ton if it is to be profitable .
According to economic experts, the coffee market is influenced by financial speculation on the futures exchanges have "distorted" to - the. Global financial markets continue swinging in the rumor, hit the psychological blow to market fluctuations create opportunities to make money in the period to be "fat turbidity trigger" today. Is showing signs of financial speculators withdraw gradually from 3 commercial coffee production in the world is New York Ice arabica, robusta Liffe's London and BM & F Brazil. Robusta coffee futures prices fell first term is due to speculators from buying controlling position bet, this completely switch to the opposite position: short sales.
The first months of 2013, when coffee prices are on the increase (46 million / ton), many agents, DN trot buy goods, export prices decreased while this contract is usually coffee futures contract , so no time to come up. There are businesses to accept delivery despite heavy losses. However, some companies do not take delivery, dispute, litigation between the enterprises and foreign enterprises.
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Coffee prices fell sharply in the Central Highlands
The latest incident is the Investment Corporation and the Export-Import Highlands Coffee (Vinacafe Buon Ma Thuot) is Comerciales narvarras.SA Company (Icona) of Spain and the action required to deliver 388.8 tons of coffee in accordance with the contract of 9866, 9868, 9869 was signed on 2/11/2009. Icona also said that due Vinacafe Buon Ma Thuot "reneged" forcing them to buy alternative sources of third parties.
However, Buon Ma Thuot Vinacafé representative for that time, they had signed six contracts with Icona coffee sales to the number of 815 tons, but by Vinacafe Buon Ma Thuot should not buy goods on 23/4 / 2010 email sent liquidation proposal Icona 6 signed contracts and accept compensation. Icona agreed, email confirmation memorandum ...
Recommendations reschedule
More pathetic, in recent years, many agents, coffee insolvent companies for this type of contract. According to Vicofa, in 2012, more than 100 companies, agents, small business coffee in the Central Highlands region has been insolvent trillion. Damage in defaults coffee always belong to the people, because most of the coffee deposit, lending, cash only handwritten bills. According to statistics of the Dak Lak Department of Industry and Trade, in 2012, the province had 43 companies, dealers coffee insolvency, inability to pay debts of 300 billion and 3,000 tons of coffee farmers who deposit . More than 1,000 farmers in Dak Lak lost property deposited for coffee for the purchasing agent.
Recently, Truong Bank - a major coffee companies in Binh Duong province, lending banks with loans to nearly 1,000 7 billion and has been with the bank foreclosed. Company leaders Banking School to explain that to happen this situation in part because in 2012, this company had bank loans with high interest rates, there are times of up to 20%.
While batch coffee companies are insolvent trading center Buon Ma Thuot coffee (BCEC) was invested tens of billion are wasted resources. After more than 3 years in operation, 8,000 m ² warehouse, factory 5.000m ² are ... spider. The financial support of Techcombank, supported by Cafe Control techniques are hardly used.
Mr. Luong Van Tu - Vicofa chairman, said that the coffee exporting companies in the world is "a harmful", with price pressure counterparts, and so many businesses buying goods at high prices, this period due to bank debt should be pressure to export cheaply, so the new default. Now though bank lending rates have fallen, but for many business enterprises have exhausted coffee could not stand up anymore.
To save coffee enterprises, the Ministry of Agriculture and Rural Development had written to the Prime Minister suggested rescheduling loans for export credit of coffee. Accordingly, MARD proposed to the Prime Minister for consideration and additional items coffee may be extended subject to a maximum loan term from 12 months to 36 months for export credit loans.
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