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Lao coffee price hits record
The price of coffee beans in the world market now hits record, amounting to US$5,000 per tonne, said President of the Lao Coffee Association, Mr Sinouk Sisombath, last week.
If coffee retains at this price, Laos will generate no less than US$100 million yearly in the next five years, the Lao Coffee Association expected.
Meanwhile the association is proposing the government to turn the Boliven (Boloven) plateau as coffee plantation area and further develop it into a tourist site. The association has also asked the government to issue a decree promptly as a reference for management for the association.
Mr Sinouk added that the price of coffee beans, particularly Arabica species, hit record high, US$5,000 per tonne. This type of coffee Arabica is now in high demand in the world market, which persuaded a lot of Lao coffee growers to turn to Arabica more.
The export of coffee beans ranks first among the exported Lao agricultural produce, with an annual average income of no less than US$30 million.
He has elaborated that the export volume of coffee beans was considered at a low level. However the association has so far tried to promote market accessibility of local coffee growers, produce finished products for export and enhance market competitiveness.
Coffee entrepreneurs have also tried to expand their planting area and desired to produce finished products according to favourable economic conditions. There are a lot of challenges and barriers to overcome and develop to international standard, he added.
So far, members of the Lao Coffee Association have faced the shortage of capital and coffee planting areas, and other favourable factors for development.
Faced with the problems, the association has called for the Government's aid to address the development of coffee industry and enable to export in large sum, and add value to Lao coffee according to the government's policy as planned.
He also asked the government to provide long-term soft loans for growers.
The government should also allocate additional lands for coffee plantation as well as conserve the plateau for coffee plantation solely because it is suitable for the crop.
He pointed that coffee plantation per one hectare would generate about US$5,000 to 10,000 which was better than other cash crops.
Presently, Lao coffee is acceptable in the European and neighbouring markets. The new markets of Lao coffee are Japan and South Korea.
Last years export volume of Lao coffee totaled over 18,000 tonnes. This years proceeds are expected at about US$50 million and tend to increase year by year.
Lao News Agency
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