Angolan Coffee Industry’s Recovery From War Held Back by Drought
Michael Chen
Senior Web Developer
ing farms to towns aren’t yet being reconstructed while training and research facilities need to be rebuilt, Cardoso said.
To boost production, Angola and Thai Hoa Viet Nam Group of Vietnam, the world’s biggest grower of the robusta variety used in espressos and instant coffee, signed a contract in July 2012 to revamp 100,000 hectares (247,105 acres) of plantations within 10 years with the help of a $250 million credit line from Brazil, state news agency Agencia Angola Press reported in March.
Growth Project
The United Nations-backed Common Fund for Commodities, or CFC, is helping families rehabilitate coffee plantations in Amboim, Kwanza Sul province, Cardoso said. The project that comprises 13 farmer co-operatives and more than 100 associations in an area of 4,000 hectares. The CFC lent $2.8 million for the $8.5 million project, according to the fund’s website.
“This project is a success story because despite being in the market for four years only, they managed to sell 2,000 tons of coffee in the domestic market last year with a ton of coffee selling for $2,000,” Cardoso said.
The southern African country grows coffee in 10 of its 18 provinces. Robusta coffee for July delivery fell 0.4 percent to $1,886 per metric ton by 2:04 p.m. on NYSE Liffe in London.
“Angola has the necessary ecological conditions and human capital for foreign investors to be successful,” Cardoso said. “Angolan coffee is well known and appreciated internationally.”
Source: bloomberg.com/news/2013-06-03/angolan-coffee-industry-s-recovery-from-war-held-back-by-drought.html
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