Panama to Import Coffee for Domestic Market
Due to poor yields during harvest the country must import about 6 million quintals of coffee in order to supply demand from the local market.
Friday, March 18, 2011
The purchase will be made through Bolsa Nacional de Productos (Baisa), arriving the country in late April.
The shortage is predicted for July and August and grain will be supplied from the Dominican Republic, Brazil and the U.S.
Considering current crop production is down 50%, for the first time the country is studying importing the bean.
On the National Producers Stock Exchange, known as BAISA, 13 companies are bidding for import licenses for nearly five thousand metric tons of dairy products.
After several years of significant imports, it is estimated that in 2012 the country will harvest enough coffee to meet local market demand.
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