JavaScript is off. Please enable to view full site.

Vietnam to give soft loans for coffee replanting

Thursday, May 14, 2015, 10:32 GMT+7

Vietnam's state-run Agribank will provide soft loans for coffee replanting until 2020 as part of a drive to replace old trees to boost output in the world's largest producer of the robusta bean.

Farmers in the five-province Central Highlands coffee belt could take up to VND150 million (US$6,900) per hectare for a maximum eight years to replace old low-yielding trees, the State Bank of Vietnam said in a statement.

The loan could carry a maximum interest rate of 7 percent per annum, compared with a range of 9.0-10.0 percent charged by banks for medium- and long-term dong loans now.

Old trees, or those in production for at least 20 years, account for more than 30 percent of Vietnam's total coffee area, the Vietnam Coffee and Cocoa Association said.

Output hit a record of 1.68 million tonnes (28 million bags) in the 2013/2014 season.

Reuters

More

Read more

;

Photos

VIDEOS

Experience summer sand-boarding in Mui Ne

Sand-boarding, a popular activity amongst local children in the coastal tourism town of Mui Ne in south-central Vietnam, is attracting hundreds of tourists to the Red Sand Dunes

Young maple trees given better protection as Hanoi enters rainy season

The trees are currently growing well, with green leaves and healthy branches.

Hunting skinks for food in southern Vietnam

Skink meat is known to be soft, tasty, and highly nutritious.

Vietnamese-made app allows people to grow real veggies via smartphone

Nguyen Thi Duyen, a young engineer in Hanoi, developed the app and its related services to help busy people create their own veggie gardens.

Chinese tourists hit by Vietnamese over dine and dash

Four Chinese were reportedly injured, with one having a broken arm.

Latest news