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India Looks to Nearby Countries for Coffee Plan Answers.

LONDON, ENGLAND - India will not join the coffee retention plan proposed by the Association of Coffee Producing Countries (ACPC) until they know whether Indonesia and Vietnam will follow the scheme as well, reports the Financial Times. India, which exports 80% of its coffee production, is watching the Asian countries' moves before committing itself under this proposal to hold back 20% of exportable surplus as a price stimulating initiative, reports the Financial Times.

The concern in India is that if other producers do not back the coffee retention scheme (CRS), the country could lose some of its 4% share of the world coffee export trade. With the Indian coffee plantation industry being highly export-oriented and the domestic market for the beverage stagnant, a cautious government will come out with a policy on the CRS only when the next ACPC meeting on the subject is held.

Vietnam is not a member of ACPC and is not bound by its decision to restrict coffee supplies. But observers say Hanoi's coffee exports revenues have fallen so far that it may be ready to consider a short-term clampdown on coffee exports to help long-term revenues. Officials from Vietnam's ministry of agriculture and rural development and the Vietnam Coffee and Cocoa Association (Vicofa) met with Sergio Amaral, ACPC chairman, to listen to the ACPC argument for using the strategy.
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Title Annotation:ambivalence to accept proposed export retentions to stabilize coffee prices
Publication:Tea & Coffee Trade Journal
Article Type:Brief Article
Geographic Code:9INDI
Date:Dec 20, 2000
Words:223
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