14 July, 2008 - Brazil's coffee industry has received a boost after the country's government promised to make more credit available to farmers and processors.
The Ministry of Agriculture said a further 1.03 billion Brazilian reals (US$812 million) in low interest loans could be obtained by those involved in coffee production for the 2008/09 growing season.
The funds come a pot of cash totalling 2.16 billion Brazilian reals that is shared in the sector annually. The money gives farmers the financial stability to hold on to their crop and sell only when prices are highest.
This year’s cash will see BRL898 million for storage loans, BRL496 million is for harvest finance, BRL313 million for purchasing by roasting companies and BRL453 million for general crop costs such as labour and fertilizers.