Coffee+Exchange - Bloomberg Printer-Friendly Page

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Vietnam Opens First Coffee Exchange to Boost Exports (Update2) Email | Print | A A A By Beth Thomas, Nguyen Dieu Tu Uyen and Claire Leow Dec. 11 (Bloomberg) -- Vietnam opened its first coffee exchange, giving growers in the world’s biggest producer after Brazil more control in pricing beans and helping the Southeast Asian economy to boost exports from the $2 billion industry. seventh-biggest bank, joined with the Dak Lak People’s Committee and Thai Hoa Joint Stock Co., a trader, to open the exchange today in Buon Ma Thuot, capital of the highlands province of Dak Lak, the nation’s main coffee-growing region. The venture may help Vietnam to cut pricing discrepancies for the crop within the country, boosting farmers’ confidence in the market and ensuring a steadier supply for exports. Prime Minister Nguyen Tan Dung is trying to boost overseas shipments to counteract the slowest economic expansion since 1999. “The exchange is definitely good for farmers because their profit margin will increase as they don’t have to go through a middleman,” said Nguyen Tuan Ha, director of the exchange. The price of robusta, which is used in instant coffee by Nestle SA , has lost 24 percent since the end of June. Vietnam is the world’s biggest exporter of that variety, which closed yesterday on London’s Liffe exchange at
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Coffee+Exchange - Bloomberg Printer-Friendly Page

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