Honduras to put $23m into coffee
HONDURAS is to invest $23 million (£14.3m) in its coffee industry, which has been hit by depressed prices and poor quality following Hurricane Mitch last year.
Coffee growers are to receive loans for coffee produced. Authorities are hoping that support will bring technical improvements.
Last years hurricane caused coffee production to fall by 20% and had a marked affect on the quality of the product.
Greater quantities of inferior-grade coffee have been exported, trading at as much as $14 below benchmark prices as a result.
Honduras plans to produce 3.3m 46kg bags in the next export year.
- Financial Times 13/08/99 page 26 (News Digest)