The Hanoi-branch of Mizuho Corporate Bank (Japan) and Tay Nguyen Coffee Import and Export Investment Joint Stock Company signed a commitment on June 13 to provide a short-term preferential loan worth US$20 million to help the company with purchasing and exporting coffee export from the 2011-2012 crop.
Since early this year, Vietnam has earned US$1.2 billion from exporting 600,000 tons of coffee, up by 49.4 percent in quantity and 122.3 percent in value over the same period last year. The Tay Nguyen Company exported 85,000 tons of coffee, earning US$187 million which accounts for 14 percent of the country’s total export turnover.
Since 2007, the Mizuho Corporate Bank has provided capital support for Tay Nguyen coffee company to help it export 35,000-40,000 tons of coffee to the Japanese market every year.
In the face of the fluctuating prices for farm products, particularly coffee, additional capital will help businesses create large reserves of goods and stabilize coffee prices in the region.
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