A coffee trading centre will open soon in Buon Ma Thuot, the Central Highland province of Dak Lak - the country's biggest coffee growing area, with the aim to help coffee growers increase their incomes.
The Buon Ma Thuot Coffee Exchange Centre (BCEC) will professionalize the purchase and export of coffee in Viet Nam, helping raise the quality of Viet Nam's export coffee and protect coffee growers' interests.
In the first stage of operation, BCEC will initially serve as an auction floor but later it will be upgraded facilities to be able to perform e-transaction for export contracts between Vietnamese businesses and the London International Financial Futures and Options Exchange (LIFFE).
Van Thanh Huy, President of the Viet Nam Coffee and Cacao Association said that coffee for trading at BCEC will undergo strict quality control. The centre with 4 ha storehouse, will also provide depository service for farmers.
According to the Viet Nam Coffee-Cacao Association, coffee price will remain high in the coming time because the world demand for coffee is on the rise. Viet Nam expects to earn 950 million USD from coffee exports this year, a 5 percent increase over last year.
Source: VNA
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