The Vietnam Coffee and Cocoa Association (Vicofa) and the Vietnam National Coffee Corporation (Vinacafe) have asked businesses to buy 200,000 tonnes of coffee for storage to prevent a slump in coffee prices.
According to Phan Huy Thong, Deputy Director of the Department of Cultivation under the Ministry of Agriculture and Rural Development, Vietnam produced nearly 1 million tonnes of coffee in 2009. 200,000 tonnes out of 500,000 tonnes contracted were exported in the first two months of 2010.
Coffee prices have dropped by 15-25 percent compared to a year earlier.
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