Vicofa to collect coffee export fees

HA NOI — The Viet Nam Coffee Industry Export Insurance Fund Management Council under the Viet Nam Coffee and Cocoa Association (Vicofa) has come to an agreement for collecting exported coffee fees of US$2 per tonne, to be effective on October 1, 2012.

Proceeds gathered will be invested into the industry according to a proportional distribution agreement, with 50 per cent given for replanting, 30 per cent for temporary reserve interest aid, 10 per cent for quality improvement, and 10 per cent for brand and trade promotions. — VNS