:. Food Industry News


Ugandan Coffee Exporters Face Financial Squeeze (DJ)

Source: Dow Jones Newswires
22/01/2008

Kampala, Jan. 22 - Ugandan coffee exporters are set to be hit hard because coffee exports destined for international markets are gridlocked at the port of Mombasa, Kenya, as a result of Kenya's post election violence, Uganda's second leading coffee exporter said Tuesday.

Daily News Alerts

Ugacof said coffee exports through the port of Mombasa are stuck because there is limited staff and very little cargo is leaving the port due to congestion and violence.

"Finance is being tied up meaning that if the situation does not change, we shall not be able to buy coffee from farmers/suppliers on top of having to bear huge financing costs," the statement stated.

The company is also facing fines and penalties due to delayed supplies.

Ugandan coffee exporters have not been able to transport the commodity through the port of Mombasa since Dec. 27 as a result of post election violence; public transporters have suspended operations through Kenya for fear of losing both the load and the vehicles to looters.

Ugacof said arrangements to provide security to exports aren't working out due to lack of trucks, containers and congestion at Mombasa.

Uganda's main coffee harvest in the central and eastern region is at its peak and, according to trade officials, there are huge stocks of coffee in the hands of farmers and dealers following a bumper harvest as a result of favorable weather.

The state-run Uganda Coffee Development Authority, or UCDA, said last month that Uganda exported up to 272,519 60-kilogram bags of coffee representing a 9.6% increase on year as a result of a bigger crop due to favorable weather. However, exports in January are expected to be sharply down due to the violence in Kenya.



GO   View more articles on this subject


More Alerts from 23/01/2008


Email This Article To A Colleague     Print A Copy Of This Page
 
 
 
 
FLEXNEWS - Business News for the Food Industry

About Us | Contact Us | Terms & Conditions | Privacy Policy
 
Daily News Alerts
Related Items
Uganda Sees Coffee Exports up 17.6 pct on Year
Uganda Coffee Exports Withstand Recession
Uganda's 07/08 Coffee Earnings Jump 52 pct
Uganda in Bid to Surpass Vietnam and Columbia in Coffee...
Coffee Wilt could Cut Uganda Output by 35 pct
Ugandan Coffee May Disappear in 30 Years - Oxfam
Ugandan President Says Can't Continue to Export Raw...
Uganda Coffee Exports to Hit 4 Million Bags by 2012...
Uganda Coffee Exports Still Halted by Kenya Violence...
Uganda Coffee Exports May Be Blacklisted on Thefts...

More in Food Industry News
Procter & Gamble Repurchasing Shares, Quiet on...
US Shoppers Going Green Despite Struggling Economy
Wessanen Sells Liberty Richter to World Finer Foods
Cheesecake Factory Sticks to 2010 Forecast
Brenntag Changes 2.5 Bln Euro Loan to Allow IPO
European Commission Refers Greece to ECJ over Unjustified...
JM Smucker's Quarterly Net Income Increases 172%
Ferrero, Hershey Would Likely Break up Cadbury
Indonesia's Astra Agro Revises Up CPO Forecast
Cocoa Supplier Olam to Benefit from Consolidation Among...

Top Headlines
Procter & Gamble Repurchasing Shares, Quiet on...
US Shoppers Going Green Despite Struggling Economy
Wessanen Sells Liberty Richter to World Finer Foods
Cheesecake Factory Sticks to 2010 Forecast
European Commission Refers Greece to ECJ over Unjustified...
JM Smucker's Quarterly Net Income Increases 172%
Cocoa Supplier Olam to Benefit from Consolidation Among...
Avebe and National Starch Food Innovation to Expand...
Auchan Backs Hypermarkets as Rivals Rethink
Ferrero Could Eye Cadbury Gum, Candy Unit
Dole Food Posts Wider Q3 Loss
Fonterra Sells Stake in UK Joint Venture to Arla
Imperial Sugar Company Closes Three-Way Joint Venture...
PepsiCo to Invest $100 Million in Egypt in 2010
Ex-Parmalat Auditors Settle US Investor Lawsuit
Tesco in Broadband Push as Reaches Beyond Groceries
India Sugar Protest Forces Parliament to Shut
Kerry Group Keeps Full Year Earnings Growth Forecast
Nestle Professional to Acquire Vitality Foodservice
Pinnacle Foods Acquires Birds Eye Foods for USD 1.3...
DSM Makes Great Strides in Production Processes for...
Russian Grocer X5 Plans Higher 2010 Capex
Brazil: Laep in Talks to Sell Dairy Plant to Nestle
SunOpta Announces Opening of Natural and Organic Sesame...
Products Comprising, and Uses of, Decarboxylated Phenolic...
Process for the Preparation of Packaged Heat-Preserved...


 


FLEXNEWS 2009 - All rights reserved
ISSN 1950-6228